German Osram announces global layoffs of 7,800

　　Munich, July 29 — Osram GmbH, the German lighting company, announced on the 29th that, in order to cut spending, it will lay off 7,800 workers both in Germany and abroad.

Wolfgang Dehen

　　An Osram spokesperson said that the company's board of directors has decided to take appropriate measures to reduce expenditures by 260 million euros (approximately US$350 million) over the next two fiscal years.

Among the 7,800 positions to be cut, 1,700 are in Germany and another 6,100 belong to branches outside Germany. German media predict that the branches in Augsburg and Berlin are "at particularly high risk."

Analysts point out that Osram is downsizing because sales of traditional businesses such as conventional light bulbs and fluorescent tubes have been unsatisfactory.