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Sept. 29, 2022, 9:03 a.m. EDT

Wind turbine maker Siemens Gamesa to lay off 2,900 workers worldwide

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By Steve Gelsi

Siemens Gamesa Renewable Energy SA /zigman2/quotes/205820667/delayed ES:SGRE -0.03% /zigman2/quotes/205192612/delayed UK:0H4N -0.03% /zigman2/quotes/206120456/delayed XE:GTQ1 -0.03% /zigman2/quotes/207159904/delayed GCTAY +0.82% /zigman2/quotes/203261696/delayed GCTAF +0.27% said Thursday it will lay off 2,900 people as the wind turbine maker takes steps to return to a profit in 2024. The company currently lists 27,000 employees on its website. The staff reductions include 800 employees in Denmark, 300 in Germany, 474 in Spain and 50 in the U.K., with further cuts planned in other countries. Siemens Gamesa CEO Jochen Eickholt told Reuters on Tuesday that the company is working to stabilize is 5.X onshore wind turbine production, which has faced higher logistics and metals costs. U.S.-listed shares of Siemens Gamesa are down 28% in 2022, compared to a 22% drop by the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.09% .

/zigman2/quotes/205820667/delayed
ES : Spain: Madrid
18.02
-0.0050 -0.03%
Volume: 402,645
Dec. 2, 2022 11:27a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€12.26 billion
Rev. per Employee
€374,838
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/zigman2/quotes/205192612/delayed
UK : U.K.: London
18.02
-0.0050 -0.03%
Volume: 42,285
Dec. 2, 2022 8:00a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€12.26 billion
Rev. per Employee
€374,838
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/zigman2/quotes/206120456/delayed
XE : Germany: Xetra
17.99
-0.0050 -0.03%
Volume: 2,083
Dec. 2, 2022 10:30a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€12.26 billion
Rev. per Employee
€374,838
loading...
/zigman2/quotes/207159904/delayed
US : U.S.: OTC
$ 3.71
+0.03 +0.82%
Volume: 30,455
Dec. 1, 2022 3:46p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$12.63 billion
Rev. per Employee
$405,252
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/zigman2/quotes/203261696/delayed
US : U.S.: OTC
$ 18.80
+0.05 +0.27%
Volume: 305.00
Dec. 1, 2022 3:18p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$12.63 billion
Rev. per Employee
$405,252
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,076.57
-3.54 -0.09%
Volume: 0.00
Dec. 1, 2022 5:17p
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