Siemens aims to save $302M by restructuring

2021 11 28 20 00 6152 Siemens Rsna 2021 400

Siemens Healthineers said it plans to restructure its diagnostics division to save about $302 million each year starting in 2025, according to a Reuters report.

Siemens expects the overhaul to cost between $350.8 million and $450.9 million, one-time charges that will be offset by the savings resulting from the restructuring, Chief Executive Bernd Montag said in the Reuters report.

Montag added that the restructuring will likely translate to less focus on certain locations for the diagnostics division and staff cuts, according to Reuters.

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