Siemens (SI): More than layoffs, a strong sign of recession


The headlines were simple enough. Siemens (NYSE: SI), one of the world's largest conglomerates, was laying off almost 17,000 people. Big companies make layoffs all the time. Big deal.

But Siemens really is different. It operates in almost every country in the world. It has large businesses in infrastructure, transportation, electronics, medical devices, and industrial materials. It is, in essence, a snapshot of the global economic system.

The fact that a company with Siemens' resources would have to dump so many poor souls is probably an indication that the recession, which may have been limited to the US and Europe, is starting to grow. Management at the conglomerate wants to hold profit margins for the second half and into 2009. They have clearly determined that revenue will not be driving those results.

Siemens thinks the global economy is in for a rough time. Actions speak loader than words.

Douglas A. McIntyre is an editor at 247wallst.com.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA+5.7512,883.95
NASDAQ+11.782,915.86
S&P 500+2.911,349.96

Last updated: February 08, 2012: 10:36 PM

Hot Stocks

General Electric

19.24+0.06(+0.31)

Alcoa

10.670.00(0.00)

Apple Inc

476.68+7.85(+1.67)

Google Inc 'A'

609.85+3.08(+0.51)

Bank of America

8.13+0.28(+3.57)

Wal-Mart Stores

61.62-0.07(-0.11)

Exxon Mobil Corp

85.32-0.55(-0.64)

Ford

12.84-0.04(-0.31)

Citigroup

34.23+1.16(+3.51)

IBM

192.95+0.35(+0.18)

Yahoo

15.78-0.05(-0.32)

Starbucks

48.72+0.31(+0.64)

Microsoft

30.66+0.31(+1.02)

Home Depot

45.17-0.29(-0.64)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1328758569967 ms.