Siemens Energy is set to significantly increase its workforce, aiming to hire over 10,000 new employees as part of a €1.2 billion expansion plan for its electricity grid business.
The initiative, spanning six years, is intended to bolster the company's grid technologies division, its largest revenue driver, amidst challenges faced by its wind turbine sector, Siemens Gamesa, reported the Financial Times.
Tim Holt, head of Siemens Energy's Grid Technologies division, highlighted the rationale behind the expansion, citing “surging demand” for electricity and the need for upgraded grid connections amid a wave of renewable energy projects. The plan includes investments in new factories and increased manufacturing capacities in the US, Europe, and Asia, with a target to expand the division's workforce by two-thirds by 2030.
Siemens Energy, currently the world's second-largest manufacturer of electricity transmission equipment, expects to implement most of its expansion plans within the next two years.
The hiring strategy aims for 40% of new jobs in Europe, 20% in the US, 20% in India, and the remainder across Asia and Latin America.
