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Siemens Aktiengesellschaft (SIEGY)

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61.77+0.11 (+0.18%)
At close: 03:59PM EDT
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  • Reuters

    Siemens Energy cuts management layers, revamps segment reporting

    FRANKFURT (Reuters) -Siemens Energy on Tuesday said it would reduce management posts by about a third and provide investors with more detail of its business in a bid to become more transparent and nimble. The company, which on Saturday announced a 4.05 billion-euro ($4.32 billion) bid for the remaining stake in wind turbine unit Siemens Gamesa, said no layoffs were planned as part of the move. Siemens Energy said that it would split its gas and power segment into three business areas - gas services, grid technologies and transformation of industry - to let investors better track development of those individual units.

  • Zacks

    Auto Roundup: LEA's Twin Buyouts, GPI's Investor-Friendly Moves and More

    While Lear (LEA) grabs headlines on buyout deals with Thagora and IGB, Group 1 (GPI) cheers investors with dividend hike and buyback boost.

  • Zacks

    Meritor's (MTOR) Siemens Unit Buyout to Boost Electric Solutions

    Meritor (MTOR) inks deal to take over Siemens' Commercial Vehicles unit for 190 million pound. The agreement looks to bolster Meritor's electrified portfolio.