Siemens posts 13 percent rise in Q2 healthcare revenue; details further job cuts

Siemens announced Thursday that second-quarter revenue in its healthcare unit climbed 13 percent year-over-year to 3.2 billion euros ($3.6 billion), while orders lifted 14 percent to the same amount. The company noted that the business' profit declined 2 percent to 526 million euros ($598 million).

According to Siemens, "orders and revenue [were] up in all three reporting regions and across all businesses, with the largest increase coming from the imaging and therapy systems businesses." Commenting on the figures, Morgan Stanley analyst Ben Uglow said "on balance, the results are 'good enough' in a quarter that was already flagged to be potentially difficult."

Siemens also announced Thursday that it plans to cut around a further 4500 jobs globally across the company, with 2200 roles expected to be affected in Germany. In February, Siemens disclosed the reduction of about 7800 jobs worldwide, although the figure was later reduced to 7400.

CEO Joe Kaeser remarked "with the initiation of these measures, the company's structural organisation has been completed for the most part." As part of the restructuring, which includes a separate management structure for the healthcare unit, the company agreed last year to sell its healthcare information technology business for $1.3 billion.

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