Osram To Lay Off 4700 As It Prepares For Spin From Siemens

It’s not easy being analog in a digital world, just ask Kodak. This is the predicament that Osram finds itself in. With 39,000 employees in 44 plants in 16 countries- but only two plants which manufacture LEDs, no wonder that parent Siemens(SI) was forced to spin the division off when it couldn’t find a buyer.

It was announced today that the company will be laying off 4700 workers as it prepares to cut costs and regain profitability. But, with changes in the lighting market accelerating, and unknowable legacy liabilities, a turnaround is anything but assured.

Disclosure: The author holds no position in any stock mentioned.