It is national employee morale day at Siemens A.G. (NYSE: SI). The industrial conglomerate, often considered the General Electric Co. (NYSE: GE) of Europe, will fire 15,000 people. According to news reports, the work is part of a plan to save $8.1 billion a year.
Siemens is in the business of providing energy solutions, health care, financial services and household appliances. The German firm does much of its business in the European Union, which seems to be in a constant period of recession.
More and more European giants have had to cut costs as economies in the region, except for Germany, post high unemployment and negative or flat gross domestic product (GDP). Of course, putting 15,000 people out of work will only make the overall consumer spending problem in Europe worse.
Smart Investors Are Quietly Loading Up on These “Dividend Legends”
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats.
There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside.
If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.