Siemens Clarifies Plan for Spin-Off of Osram, Reorganization Includes 4,700 Job Cuts

Siemens AG, Munich, Germany, clarified plans for a spin-off of its Osram lighting business in preparation for an independent listing on public exchanges. The company also plans to reduce its Osram workforce by 4,700 workers, most through sales of production plants and the closing of smaller plants with lower sales and facilities producing lighting products nearing the end of their product life cycles. At the same time, Osram will invest in staff increases in markets and product lines that

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