Well here's 7800 people who will no longer be contributing to GDP
Osram Cuts 7,800 Jobs as Traditional Bulb Sales Decline - Bloomberg
Osram AG, the world’s second-biggest
lighting company, will cut an additional 7,800 jobs to safeguard
earnings amid a faster-than-expected decline in sales of
traditional bulbs.
The lay-offs will help Osram save 260 million euros ($349
million) in annual costs through 2017, the Munich-based company
said in a statement yesterday. The new cuts add to an older plan
to scrap 8,700 positions by the end of this fiscal year. The
company had 35,108 employees as of Sept. 30.
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