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Provider : Reuters Investment Profile
Provider : Wright Reports
Provider : Steubing AG

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Osram Licht AG decides on additional transformation measures; plans to cut around 1,700 domestic positions and around 6,100 international positions in 2015 - 2017; confirms FY 2014 outlook

Tuesday, 29 Jul 2014 01:56pm EDT 

Osram Licht AG:Says Managing Board of OSRAM Licht AG decided at its meeting on additional transformation measures to further improve competitiveness of its operating units.Says intended restructuring measures are to be implemented upon conclusion of consultations with employee representatives.Says these mainly include manufacturing activities for traditional products in general illumination, sales, administration as well as other indirect functions.Says this means that around 1,700 domestic positions and around 6,100 international positions are planned to be cut in fiscal years 2015 through 2017.Says in total, measures decided would lead to permanent cost reductions of about 260 million euros until end of fiscal year 2017.Says gross costs are expected to amount to about 450 million euros in same period.Confirms outlook for FY 2014 that was updated at end of May.Confirms target to reach average reported EBITA margin of more than eight pct over cycle from fiscal year 2015 onwards.Says depending on implementation speed of measures and restructuring costs' effect on earnings, reported EBITA margin could be below this average value in FY 2015. 

Company Quote

-0.04 -0.09%
29 Apr 2016