Osram announced that it will lay off 7,800 people worldwide

Germany Osram Lighting Co., Ltd. announced on the 29th that it will lay off 7,800 people outside Germany and Germany in order to reduce expenses.

A person from OSRAM said that the company's board of directors has decided to take appropriate measures to reduce spending by 260 million euros (about 350 million US dollars) in the next two fiscal years.

Of the 7,800 jobs to be cut, 1,700 are in Germany and another 6,100 are branches outside Germany. German media predict that the branches in Augsburg and Berlin are “very risky”.

Analysts pointed out that Osram's downsizing was due to the unsatisfactory sales of traditional businesses such as traditional bulbs and fluorescent tubes.

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