UPDATE: April 23, 2018
Siemens has decided that approximately 125 employees will lose their jobs when Siemens closes their Burlington, Iowa facility by 2019, including the Siemens’ Power and Gas, Power Generation Services and Dresser-Rand operations.
According to a Siemens’ spokesperson, “This difficult decision was made as part of a necessary global plan to enable Siemens to meet the competitive pressures in the energy market by reducing costs while best serving our customers.”
Original Blog Post ...
As part of an extensive global restructuring effort, Siemens is selling business units, closing plants, and laying off thousands of employees. Therefore, it should have come as no surprise that the German-based Dresser-Rand’s Government Business unit would be sold to the Curtiss-Wright Corporation. The acquired business will operate within Curtiss-Wright's Power segment and its purchase will result in the closing of its Wellsville, New York facility. 250 employees will be permanently laid off by 2020. Some work will be transitioned to Siemens facilities in Charlotte, North Carolina and elsewhere. Some valuable and highly-skilled employees will be offered the opportunity to work in other Siemens facilities.
According to a company spokesperson, “Siemens has been making structural adjustments to its manufacturing and service network to offset capacity surplus and price erosion caused by broad energy market changes that are affecting the entire supply chain.”
“Dresser-Rand is a leading designer and manufacturer of mission-critical, high-speed rotating equipment solutions, including reciprocating compressors, steam turbines and steam system valves, supporting Nimitz-class and Ford-class aircraft carriers, Virginia-class and Columbia-class submarines, and most major U.S. Navy shipbuilding programs. Dresser-Rand is the sole supplier of steam turbines and main engine guard valves on all aircraft carrier programs. Through its three service centers, it is also a leading provider of ship repair and maintenance for the U.S. Navy’s Atlantic and Pacific fleets.”
What would you do if you saw the handwriting on the Wall? Stay until the bitter end, possibly earning retention and shutdown bonuses or bail out early and beat the herd of similarly qualified co-workers who will enter the job market en mass?