BERLIN May 6 German conglomerate Siemens
announced a corporate overhaul on Tuesday which will
streamline the structure of the company into nine divisions, see
its healthcare business managed separately, and its audiology
activities publicly listed.
In a statement, the Munich-based group also confirmed it was
buying the energy business of Rolls-Royce for roughly 950
The restructuring steps are part of a new strategy to be
unveiled by Chief Executive Joe Kaeser on Wednesday in Berlin.
The company said the measures, which include a streamlining of
human resources and communications functions, would increase
productivity by 1 billion euros per year, effective from the end
of fiscal 2016.
(Reporting by Noah Barkin)