News Digest Item
24 Nov 2017

Siemens must have more ideas than closing plants – opinion

Süddeutsche Zeitung

Even if the job cuts in Siemens’ fossil turbine division are not caused by management mistakes, the company handles the situation badly, writes Detlef Esslinger in a commentary in the Süddeutsche Zeitung. Siemens not only announced layoffs and plant closures earlier this month, but also huge profits and a higher payout to shareholders. “Whoever makes a profit of six billion euros and raises the dividend should have more ideas than simply closing plants”, writes Esslinger. “If you want people to despair over the market economy, capitalism, and globalisation, you have to behave like [Siemens CEO Joe] Kaeser & Co.”

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