Siemens Scraps 2020 Guidance Amid Virus Outbreak
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Siemens managed to keep its production facilities operational during the crisis by focusing on long-term orders and implementing safety measures. Despite staying open, Siemens faces challenges in profit visibility and recovery, particularly in short-cycle businesses. The company benefits from its automation division, which is thriving as factories seek to distance employees. Siemens' diverse business includes a significant oil and gas division, which is impacted by the oil price crash. The company sees potential in automation as a long-term trend, possibly bringing factory jobs back to high-earning countries.
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2 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
In what ways has the pandemic influenced the automation business at Siemens?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What contrasting divisions exist within Siemens, and how do they impact the business?
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