Siemens Energy AG announces plans to restructure its wind turbine business, particularly its Gamesa unit, to reverse years of losses. The company aims to cut output and jobs in the onshore sector, addressing high costs and technical challenges that have impacted profitability. These measures seek to stabilize the division and achieve double-digit returns in the future.
Germany’s Siemens Energy to cut wind power jobs
Siemens Energy AG is making headway on a turnaround of its troubled wind turbine business after four years of losses.
The German company will cut back on output and jobs in its Gamesa unit to return the division to profit,…
— Tracy (𝒞𝒽𝒾 ) (@chigrl) May 8, 2024
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