Light bulb maker Osram cutting 4700 jobs
News from Atlanta Journal Constitution:

German industrial conglomerate Siemens AG’s light bulb unit, Osram, says it is cutting 4,700 additional jobs in its drive to save costs and phase out older technologies.

Company spokesman Stefan Schmidt told The Associated Press on Friday the cuts come on top of others previously announced, for a total of at least 7,300 reductions through 2014. Osram currently has some 39,000 employees worldwide

The restructuring plan includes shuttering some sites outside Germany, and opening a new LED-assembly plant in China that is expected to add 1,700 jobs by 2017.

Siemens said this week that it plans to shed its majority stake in Osram via a spinoff to shareholders, but will retain 17 percent and another 2.5 percent through Siemens Pension Trust. It hasn’t set a date for the move.

…………… continues on Atlanta Journal Constitution
… Read the full article

Related News:

The 75-Watt Bulb Has a Dim Future
News from Businessweek:

The phaseout of traditional 100-watt incandescent light bulbs last January—a move to meet new federal efficiency standards—struck panic in the hearts of some consumers. Home Depot (HD) reported an up-to 20 percent spike in sales of 100-watt bulbs for 2011 as people rushed to stockpile for the future. At least one Ohio woman made sure to squirrel away enough bulbs to last 50 years. A month from now, on Jan. 1, 2013, traditional incandescent 75-watt bulbs also will go the way of the Dodo, as the second stage of the phaseout goes into effect. This time around, however, shoppers seem more relaxed. “Last year we saw some consumers buying up product, but that’s really slowed down,” says Bill Hamilton, president of light bulb merchandising at Home Depot. “Customers are beginning to embrace the new technology.”

<…………… continues on Businessweek

… Read the full article