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Siemens plans cuts at Process Industries business - Bloomberg

Reuters
FILE PHOTO: A logo of Siemens is pictured on a building in Mexico City, Mexico, May 16, 2017. REUTERS/Edgard Garrido/File Photo

FRANKFURT (Reuters) - Siemens (SIEGn.DE) is planning restructuring at its Process Industries business as well as at Power & Gas, news agency Bloomberg reported on Thursday, citing sources.

It said job cuts at Process Industries, Siemens's least profitable business last year, could be "substantial".

A Siemens spokesman reiterated that it was continually thinking about its strategic direction, which could include consolidation of some businesses.

A person familiar with the matter told Reuters earlier that Siemens was planning further cost cuts at its Power & Gas division.

(Reporting by Maria Sheahan; Editing by Tom Sims)