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Areva to divest assets and cut jobs to cope with 2014 losses
2015-03-12 01:00:00| Power Technology
Energy and electrical engineering firm Spie is looking to acquire assets from Areva, in response to the latter's announcement for divestment in the previous week.
Ericsson to cut 2,200 jobs in Sweden
2015-03-11 10:34:00| Telecompaper Headlines
(Telecompaper) Ericsson announced plans to cut 2,200 jobs at its operations in Sweden, as part of its cost-savings programme announced last year. The lay-offs in Sweden will come mainly in the areas R&D and Supply. The company also plans savings in sales, general and administration, as well as reductions in external costs, for example related to the number of consultants and consolidation of its IT portfolio. As announced last November at its Capital Markets Day, the programme targets annual savings of SEK 9 billion by 2017. The cost savings will be re-invested in growth areas such as IP networks, cloud, TV and media, OSS and BSS and Industry & Society applications. Ericsson confirmed the total cost of the restructuring is estimated at SEK 3-4 billion over the period 2015-17, in addition to usual annual restructuring costs of SEK 2 billion. Further progress on the programme will be announced at its earnings reports.
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Siemens Plans to Cut 7,800 Jobs in Part of Ongoing Restructuring
2015-02-07 00:56:50| Industrial Machines - Topix.net
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Volvo to cut 1,000 jobs in construction-gear unit
2015-02-05 14:36:51| Appliances - Topix.net
Sweden's Volvo AB said Thursday it will cut 1,000 jobs in its construction equipment business as Chief Executive Olof Persson's struggle to improve the company's profitability continues. Volvo said its construction equipment operation has suffered from a deterioration in markets outside North America and as a result it will close operations in Poland, Brazil and the U.S. The job cuts come on top of a staff reduction of 4,400 white-collar employees announced last year within the framework of a program now targeting 10 billion Swedish kronor in savings by the end of 2015.
Siemens to cut over 7,000 jobs in reorganisation: source
2015-02-05 13:15:16| Industrial Machines - Topix.net
German industrial group Siemens plans to cut over 7,000 jobs worldwide as part of a reorganisation under Chief Executive Joe Kaeser, a source familiar with the situation said.
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