Osram: could make 1,200 redundancies
(CercleFinance.com) - The group has reduced its number of employees by 1,700 positions over FY 2020, to end-September.
In FY 2021, the company plans to make about 1,200 additional redundancies, according to the paper Welt am Sonntag.
When Siemens floated Osram on the stock exchange seven years ago, the lighting company had almost 40,000 employees. However, due to several cost-cutting operations, the number of employees will be halved by 2025, Welt am Sonntag says. By 2025, the number of employees worldwide is expected to be around 20,700.
The group does not expect to return to profit before 2022.
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