: Siemens noted on its website this morning that the move was primarily aimed at improving the performance of its struggling power generation division, according to Deutsche Welle. The segment had been suffering from a difficult market environment as energy prices dropped sharply as did demand for Siemens' big gas turbines. It said 2,200 jobs would have to be slashed in Germany. One-off effects "With these measures being initiated, the restructuring of the company is in the main completed," CEO Joe Kaeser said in a statement posted online. Profit generated by Siemens' core industrial business dropped by 5 percent in the second quarter, the company announced Thursday. The planned cuts come on top of the 7,800 redundancies that the firm announced in February - a figure that was later reduced to 7,400.
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