ISLAMABAD (PEN) : Siemens (Pakistan) Engineering Co. Ltd. has announced a significant strategic transformation in one of its key operational segments within the Smart Infrastructure – Electrification and Automation Business. This decision aims to better align the company with the needs of the local market and its customers while enhancing value for shareholders by introducing greater flexibility in operations.
As part of this transition, some employees have chosen to voluntarily leave the company and take advantage of severance benefits. Siemens has acknowledged that the one-time cost of this transformation is expected to be around Rs 556 million, which will be covered by the company.
Importantly, Siemens reassured stakeholders that this restructuring will not affect any other business lines, and operations will continue as normal. This transformation reflects the company’s commitment to adapt and thrive in a changing landscape while supporting its workforce during this transition.