ABU DHABI , UNITED ARAB EMIRATES , NOV 5   – 2017 :- Joe Kaeser , Global CEO of Siemens during the interview at the Four Seasons Hotel in Abu Dhabi. (Pawan Singh / The National) Story by Sarmad Khan
Germany's industrial giant Siemens has decided the number of jobs it will cut as it reorganises its power and gas business. Pawan Singh / The National

Exclusive: Siemens confirms job cuts as it restructures power generation business

German industrial giant Siemens has decided the number of jobs it will cut at the conglomerate’s power and gas business, which is struggling amid falling demand for large electricity generating turbines, its chief executive said.

"We pretty much know how many jobs will be [made] redundant over time because we see the markets and how markets develop," Joe Kaeser told The National in an interview in Abu Dhabi, without specifying the time frame or the total number of job losses when asked if the headcount will be reduced by hundreds or by thousands. "What we want to find out is not so much the diagnostics. We want to find out actually the solutions – how we can manage the transitions."

Media reports in recent weeks have suggested that the company could cut thousands of jobs and shut manufacturing facilities as the industrial giant reorganises its power and gas business. This could be the largest restructuring since Mr Kaeser initiated 4,500 job cuts in May 2015. The company has announced more than 15,000 retrenchments since the chief executive came to the helm of the company in 2013, according to a Bloomberg report, which also said layoffs may also happen at the firm's industries-and-drives unit.

Siemen’s human resources chief, Janina Kugel has said that “massive changes” were afoot and that workers would be informed about the plans in mid-November, a Reuters report cited Ms Kugel’s interview with German news agency DPA.

There has been intense media scrutiny in recent weeks and opposition to the company’s plans from the workers’ representatives. Mr Kaeser however said there was no dispute that the economic environment has structurally changed as far as fossil power generation is concerned.

“So we need to optimise and realign our resources. It’s a very natural thing [for a business] and there is no factual dispute about that,” he said. “The question now is exactly how we are going to do that.”

It is important, he said, that union representatives and the company work together as it “doesn’t do much good to have the debate in the public”.

“We [at Siemens] are people -- and I personally am someone -- who stands for dialogue and I think that’s where the union needs to be a bit more serious and mindful about the value of dialogue,” he said. “Just pushing the concerns of the people who might be affected doesn’t do any good. We will consciously work together on dialogue and see how we can manage the situation.”


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The situation, according to Mr Kaeser, is “favourable” as the company last year hired about 30,000 people worldwide and about 5,000 in Germany. Siemens is willing to re-skill employees and transfer them to jobs in other parts of the business, preferably matching them with employment opportunities open within the same region where they are employed, he said. At the end of 2016, the company employed 351,000.

“If we have some jobs being made redundant on the power generation [business] because there is no market then we have the opportunity to re-skill them [affected employees and] use them somewhere else,” he said. “So assuming we can find the [geographical] match this would ease the situation dramatically. For those we don’t find the geographical match …. we will make sure that through huge efforts of free qualifications we keep these people employed in their own region. It is about people coming together and looking for solutions and that’s exactly what we are doing.”

The Munich-based company, which sold its remaining 17 per cent stake in light manufacturer Osram in a US$1.4 billion deal last month, will be busy pursuing its strategic plans initiated in the 2014. “We are busy with that so you may see slower mergers and acquisitions activity going forward in the company,” he said when asked if the company plans to spin off more business units.

The company in April teamed up with Spain's Gamesa to form one of the top global renewable energy firms and has also announced its partnership with France's Alstom to become the world’s most vertically integrated mobility solutions provider. Siemens also plans to bring its healthcare business to public further down the road.

The company is committed to its operation in the UK and will remain a “happy participant of the British society and industry”, post Brexit, Mr Kaeser noted. “As far as Siemens is concerned the focus is on our customers, the focus is on our local value add, but of course, we are sorry about the fact that UK eventually leaves the European economic environment,” he said.

"There are no winners," according Mr Kaeser, in Britain’s exit from the European Union. “No one benefits …. I don’t think so because the more [countries] join, the more powerful the Europe is,” he said. “I think Europe is well advised to form a unified economic force to be on par with the US and China.”

The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

Our family matters legal consultant

Name: Hassan Mohsen Elhais

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Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
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Sector: Microfinance
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Investment stage: Series A
Investors: Family offices

UAE athletes heading to Paris 2024

Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
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Safia Al Sayegh (women's road race).

Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Maryam Mohammed Al Farsi (women's 100 metres).


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Started: 2021

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Industry: Property technology

Funding: $7.75 million

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  • High fever
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  • Severe headache
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If symptoms occur, they usually last for two-seven days

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Directors: Various

Starring: Nicola Coughlan, Luke Newton, Jonathan Bailey

Rating: 3/5

How to wear a kandura


  • Wear the right fabric for the right season and occasion 
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  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
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  • Wear hamdania for work, always wear a ghutra and agal 
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Director: Sudha Kongara Prasad

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Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends


Friday Valladolid v Osasuna (Kick-off midnight UAE)

Saturday Valencia v Athletic Bilbao (5pm), Getafe v Sevilla (7.15pm), Huesca v Alaves (9.30pm), Real Madrid v Atletico Madrid (midnight)

Sunday Real Sociedad v Eibar (5pm), Real Betis v Villarreal (7.15pm), Elche v Granada (9.30pm), Barcelona v Levante (midnight)

Monday Celta Vigo v Cadiz (midnight)

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Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

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This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

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Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
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Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.

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Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat

Who are the Soroptimists?

The first Soroptimists club was founded in Oakland, California in 1921. The name comes from the Latin word soror which means sister, combined with optima, meaning the best.

The organisation said its name is best interpreted as ‘the best for women’.

Since then the group has grown exponentially around the world and is officially affiliated with the United Nations. The organisation also counts Queen Mathilde of Belgium among its ranks.

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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

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Read part one: how cars came to the UAE


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Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
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Spring break will be from March 8 - 19

Public school pupils will undergo distance learning from March 22 - April 2. School hours will be 8.30am to 1.30pm

Staff will be trained in distance learning programmes from March 15 - 19

Teaching hours will be 8am to 2pm during distance learning

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Director: Michael Sarnoski

Rating: 4/5


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Investment stage: Series A
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The Specs

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Three ways to boost your credit score

Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:

1. Make sure you make your payments on time;

2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;

3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.

The years Ramadan fell in May





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