OSRAM to Cut 8700 jobs-21% of Workforce

(Reuters) – German lighting maker Osram Licht AG will cut more jobs and could sell factories as it seeks to keep up with a shift in technology, its chief executive told a German newspaper.

“There will be further capacity adjustments in the traditional lighting business. Job cuts are a regrettable but necessary part of that,” Wolfgang Dehen was quoted as saying in an interview published on Wednesday in the Sueddeutsche Zeitung daily.

11 Jun