Siemens to cut jobs in EV charging business

Siemens is making significant changes to its electric vehicle charging business, with plans to cut a third of its workforce in that sector as part of a larger restructuring effort. The company is set to eliminate 450 jobs in the EV charging business, which currently employs 1,300 staff. This move is part of a broader strategy shift within Siemens as it adapts to evolving market conditions.

Within the Digital Industries division, which encompasses various activities including Xcelerator and Siemens EDA, the company is focusing on its industrial automation business. This division, which has a workforce of 68,000 employees, will see an 8% reduction in staff as part of the restructuring.

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The decision to downsize is driven by changing market dynamics in key regions such as Germany and China. Siemens highlights a two-year decline in the German market, prompting the need for capacity adjustments. While 2,600 roles will be cut in Germany, the company aims to maintain overall headcount stability by focusing on hiring in growing areas.

Siemens is implementing these changes through a realignment of sales activities, enhanced cross-unit collaboration in product development, and a more agile approach to managing its global factory network. The company acknowledges the importance of adapting to market shifts while maintaining a long-term view on global demand for automation technology.

Recognizing the challenges in the EV charger market, Siemens is shifting its focus towards fast-charging infrastructure for depots and fleets. This strategic shift is exemplified by the acquisition of Heliox in 2023, enabling Siemens to better address the evolving needs of the market.

As part of its restructuring efforts, Siemens is committed to supporting affected employees through re- and upskilling opportunities. The company aims to facilitate job placements within the organization, leveraging its extensive network of open positions to provide new opportunities for impacted staff.

Furthermore, Siemens is reinforcing its commitment to its home market by earmarking a significant portion of its global investments for Germany. With €1 billion allocated for investments in Germany, including the development of a new research and manufacturing campus in Erlangen, Siemens is positioning itself for future growth and innovation in the industrial sector.