Germany's Siemens Energy to cut wind power jobs as turnaround gathers steam [Fortune]
SIEMENS AG SPONS ADR (SIEGY)
NASDAQ:AMEX Investor Relations:
siemens.com/investor
Company Research
Source: Fortune
The German company will cut back on output and jobs in its Gamesa unit to return the division to profit, eventually targeting double-digit returns, Siemens Energy said Wednesday. The measures target the onshore business, where Gamesa's struggles have been most severe, compounded by high costs that have pushed the industry into the red. Losses from the deep technical problems with a new generation of Gamesa turbines eventually threatened to engulf the company's profitable grid-making and gas units. The company didn't specify the number of potential job cuts. Gamesa employs roughly 26,000 people. The plans will also see the manufacturer retreat to primarily focus on European and US markets. “We will not defend each and every market, in particular onshore, where we do not see the midterm profit,” Chief Executive Officer Christian Bruch said in a Bloomberg TV interview. “It is about focus and selectivity.” Gamesa will also swap out its chief executive officer, the fourth such mov
Show less
Read more
Impact Snapshot
Event Time:
SIEGY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
SIEGY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
SIEGY alerts
High impacting SIEMENS AG SPONS ADR news events
Weekly update
A roundup of the hottest topics
SIEGY
News
- Siemens Energy, Energinet sign €1.4bn deal to upgrade Denmark's grid [Yahoo! Finance]Yahoo! Finance
- Senzime Appoints Former Dräger Medical CEO Wolfgang Reim as New Senior Advisor to The Board [Yahoo! Finance]Yahoo! Finance
- Siemens Energy boss says there can be no energy transition without China [Yahoo! Finance]Yahoo! Finance
- Siemens Energy, Energinet win €1.4B Denmark grid expansion deal [Seeking Alpha]Seeking Alpha
- Siemens Healthineers announces MRI cooling tech plant in UK [Yahoo! Finance]Yahoo! Finance