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Osram Licht AG to cut more jobs

During a recent interview with sector media, Wolfgang Dehen, chief executive of German lighting maker Osram Licht, was quoted as saying that the company could cut more jobs and sell factories as it seeks to keep up with a shift in technology.

German lighting maker Osram Licht will, according to its chief executive Wolfgang Dehen, cut more jobs and could sell factories as it seeks to keep up with a shift in technology.
“There will be further capacity adjustments in the traditional lighting business. Job cuts are a regrettable but necessary part of that,” Dehen was quoted as saying.
Under its current cost-cutting programme, dubbed “Push”, Osram is cutting 8,700 jobs, or 21% of its workforce, and closing a quarter of its 43 factories to generate gross savings of EUR 1.2 billion.
According to Dehen, Osram will review its remaining sites around the world “according to market development and competitiveness”.
Dehen also said he was working on a new medium to long-term strategy, to be called “Osram 2019”, which he aims to present by next year.
Osram, the world’s No.2 lighting maker after Philips, is working to adjust to a shift from traditional light bulbs to newer technologies such as light-emitting diodes (LEDs).

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