Osram to eliminate 7800 jobs due to traditional lighting declines

Although Osram (Munich, Germany) will eliminate 7800 jobs, fiscal Q3 2014 declines in its traditional general illumination business were almost offset by substantial gains for its light-emitting diode (LED)-based solid-state lighting (SSL) products on a comparable basis. On this basis--meaning excluding portfolio and currency effects--revenue dropped slightly by 1% year-on-year and was around $1.6 billion dollars. The LED-based products business recorded a comparable revenue increase of 21% in Q3 and had a share of 38% of consolidated group revenue.