Osram, a giant among lighting manufacturers which is spinning off from Siemens, announced further structural changes including plant sales and the additional reduction of 4,700 jobs by 2014. The company indicated that cumulative measures of the restructuring program will result in savings of about 1 billion euros by 2015. Osram stated in a press release that the total costs during the period until 2014 will be about 500 million euros.
“We are consequently treading the path of corporate reorganization and in doing so are entering the digital lighting age. Compared to traditional products, the depth of our added value in LED-based products will be significantly reduced. Consequently, the personnel increase in the future fields will only partially compensate for the change in the traditional business,” said Wolfgang Dehen, CEO of Osram Licht AG.