Siemens Energy – formerly Dresser-Rand in Olean announced to employees yesterday in a town hall style meeting that they will be downsizing by moving production to the Painted Post facility over the next year.
The Olean facility employs about 860 employees. 100 positions will be transferred to Painted Post by mid 2022 and 360 jobs will stay here in Olean. The remaining positions will be terminated.
CEO Christian Bruch says that there will be 7,800 layoffs across the board to make the company more competitive in their industry. 1,700 of those layoffs will be in the US the rest are in Germany. This will be the fourth time that Siemens has downsized at the Olean facility in an effort to increase the profit margin of the company.
The layoffs will be phased over the next year and are not expected to come in the next few months.