Osram Warns of Lighting Slowdown for Second Time This Year

Osram AG warned investors for a second time this year of a slump in performance at the former Siemens AG lighting division, and said it will begin talks with labor groups to implement cost-saving measures. The shares fell in extended trading after Osram late Tuesday cut its 2018 forecast, blaming a first-half slowdown and a weaker dollar that added to the strain on revenue. The Munich-based company, which gets more than 20 percent of its sales in the U.S., was already dealing with challenges in automotive-headlamp sales, while its beleaguered light-fixtures unit is under review for a possible sale.