ABB CEO announces further job cuts
The Swiss industrial group ABB will degrade even more points in the current restructuring of the Group. "We now have 1,500 employees less on board than at the beginning, and we will use natural turnover", said ABB chief Ulrich Spiesshofer in an interview with the manager magazin, which is from 21 August at the trade.
The manpower of the outfitter for the power industry and the industry has shrunk since Spies Hofer change to the group's top management in September 2013. almost 150,000 to 140,000, mainly due to sales of non-core businesses.
Moreover Spiesshofer launched last autumn under the title "Next Level" strategy a Group restructuring to streamline ABB and abolish dual and multiple structures.
But that Spiesshofer could not prevent the ABB share price also since been behind the performance of large rivals such as General Electric showing stock market chart and Siemens show stock market chart remains and in June the activist investor Cevian bought up an equity stake of more than 5 percent. Cevian is known for the long term to impose profound changes in enterprises.
Counted Cevians entry as a confirmation of the strategy
Spiesshofer evaluated Cevians started yet as confirmation of its strategy: "The investor could but also why get in, because he believes that the company now gets going right We give many places gas.." The pressure on the management had not risen, but "completely unchanged".
A smashing into an energy and an industrial part, such as the chief investment officer of the financial group Nordea, Mathias Leijon, has demanded declines Spiesshofer. Instead, he wants to cross "ramp up customer-oriented cooperation, create real added value on the common platform in terms of costs and leverage synergies in research and development" in the group that.
The Group had been "worked not the best possible in the past".