MASSDEVICE ON CALL — Siemens (NYSE:SI) has yet to comment on German media reports that the company is about to undergo a major evolution.
Citing anonymous Siemens insiders, Manager Magazin Online reported that Siemens will soon announce significant restructuring, including the flattening of its main business units and the termination of as any as 10,000 employees.
The company did not immediately return requests for comment.
Manager Magazin reported that Siemens will on May 7 announce the dismantling of its healthcare, infrastructure & cities, industry and energy departments, and that the engineering giant would pour at least $1.38 billion (€1 billion) into an energy acquisition.
SI shares closed last night at $131.83, a 2.2% bump on the day.
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