The Candian conglomerate is traing to rescue its loss-making railway division by cutting 5,500 jobs, half of them in its three manufacturing sites in Germany.
German engineering giant Siemens has reported an increase in bottom-line earnings for its second fiscal quarter. The company keeps eying a merger of its rail business with that of Canada's Bombardier.
Germany's Siemens and Canada's Bombardier are in talks to combine their rail operations, media reports have said. If successful, the move would strengthen their hand against the market leader from China, CRRC.
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