Automotive, consumer market slump trigger Osram job cuts: Page 2 of 2

January 25, 2019 //By Christoph Hammerschmidt
Automotive, consumer market slump trigger Osram job cuts
After a weak start to the new fiscal year, lighting group Osram has announced job cuts at its chip subsidiary Opto Semiconductors. Of the 2800 jobs in Osram’s semiconductor fab in Regensburg (Germany), 300 will be cut. The company cites the weaker demand from the automotive industry, the company's most important customer, as one of the reasons. A company spokesman confirmed the reports to eeNews Europe, including the level of job cuts.

In addition, the declining sales figures of the European and especially the German automobile manufacturers in the past half-year as a result of the switch to the WLTP approval process had an impact on Osram's sales.

Osram's LED division, namely the Osram Opto Semiconductors business unit, had experienced rapid growth rates in recent years, which at times amounted to 24%. Due to the high demand and the associated increase in production, the company had invested heavily in the expansion of capacities and hired many new employees for this purpose. In the second half of the past fiscal year, sales growth had recently slowed to almost zero. As the company now announced in an ad hoc report, the first quarter, which had already been announced with a percentage decline in sales in the high single digits, was even weaker than originally expected.

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