February 25, 2015 / 5:54 PM / 3 years ago

New Osram CEO has no plans for further job cuts: paper

BERLIN (Reuters) - The new boss of Germany’s Osram Licht (OSRn.DE) has no plans at present to cut more jobs at the lighting products maker, he was quoted as saying by the Frankfurter Allgemeine Zeitung newspaper on Wednesday.

Osram, the world’s second-biggest lighting firm after Dutch group Philips (PHG.AS), has cut thousands of jobs as it seeks to refocus its business on higher-margin LED lighting, where it is racing to stay ahead of Asian rivals.

“Staff cuts are not at stake, I am not at all thinking about that,” Olaf Berlien, who became the company’s chief executive last month, told the newspaper in an interview.

“We must try to find new business opportunities and to transfer employees from classic lighting operations to the new world,” the newspaper quoted Berlien as saying.

The CEO pledged earlier this month to speed up restructuring at Osram where adjusted core earnings before interest, tax and amortization (EBITA) rose to a more-than-expected 151 million euros ($171 million) in the first quarter.

Reporting by Andreas Cremer; Editing by Mark Potter

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