Siemens said in a statement that it is "responding to the rapidly accelerating structural changes in the fossil power generation market and the commodity sector." It added, "A consolidation plan for the Power and Gas Division (PG), the Power Generation Services Division (PS) and the Process Industries and Drives Division (PD) aims to increase capacity utilization at production facilities, drive efficiency and enhance expertise by bundling resources." According to the plans presented to the employee representatives, a total of around 6,900 jobs worldwide are to be cut in the affected divisions over a period of several years.

Roughly half of these jobs are in Germany. Outside Germany, the restructuring measures will eliminate a total of just over 1,100 jobs in European countries. In countries outside Europe, another 2,500 jobs will be affected, including 1,800 jobs in the consolidation of production facilities and administrative functions in the U.S. "Global demand for large gas turbines (generating more than 100 megawatts) has fallen drastically and is expected to level out at around 110 turbines a year.

By contrast, the technical manufacturing capacity of all producers worldwide is estimated at around 400 turbines. PG already began responding to the changed market conditions three years ago." Siemens said. Janina Kugel, Chief Human Resources Officer and member of the Managing Board of Siemens, added, "The cuts are necessary to ensure that our expertise in power-plant technology, generators and large electrical motors stays competitive over the long term. That's the goal behind the measures we're taking. However, we can reach this goal only if we find answers to the worldwide over-capacities and the resulting price pressure.