OSRAM Union Official Expects More Layoffs

Osram AG, the lighting unit of Siemens AG (SIE), faces more job cuts than announced this week as the industry shifts toward light-emitting diodes technology from traditional light bulbs, a union executive said.

Osram will have to cut more jobs after announcing a reduction of about 10 percent of the company’s German workers on Jan. 17, Berthold Huber, who heads the IG Metall labor union and is also deputy chairman of the supervisory board at Siemens, Europe’s largest engineering company, said today in an interview.

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