Siemens' cost-cutting measures to hit energy unit the most

12/11/2012 | Reuters

Siemens' energy division will bear more than half of the company's planned $7.8 billion cost reductions over the next two years, the German conglomerate said. Siemens aims to save up to $4.2 billion in the unit next year and in 2014, while boosting its operating profit margin to at least 12% in 2014.

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