German light manufacturer Osram announced a cut of 7,800 jobs at home and abroad over the next two years, aiming to cut costs, the Munich-based company said on Tuesday evening.
The company's board has decided to take appropriate measures in order to save about 260 million euros (349 million dollars) in the next two years, according to Osram.
Of the 7,800 jobs, 1,700 jobs are to be cut in Germany, and 6,700 jobs abroad. German media reported that sites in Augsburg and Berlin are particularly at risk.
The background is the poor sales of traditional bulbs and fluorescent tubes. And this is not the first job cut by Osram, which has more than 35,000 staff.
Due to the ongoing austerity program, a total of 8700 jobs will be cut by the autumn of this year, almost 1500 of them in Germany.
CEO of Osram Wolfgang Dehen announced job cuts before, but he had not yet given specific numbers.
