Siemens logo on a building in Siemensstadt in Berlin, Germany. Source: Reuters
As the global economy teeters, companies continue to announce lay offs in order to cut costs. Siemens (SIEGY), (SMAWF) recently announced plans to dismiss hundreds of workers at a gas turbine parts and components center in Houston, TX due to weak global demand:
German engineering firm Siemens plans to dismiss about 200 workers at a gas turbines parts and components service center in Houston, Texas, next year due to weaker global demand, a company spokesman said on Tuesday.
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