Nov 3, 2017: LEDVANCE has laid off 90 out of its 1500 staff from its US office, after examining its internal structures closely. The layoff has affected the central functions at LEDVANCE’s headquarters in Wilmington, Massachusetts.
The company, acknowledging the valuable contributions of its employees to the lighting industry and to its customers, said that it is doing its best to support them. The company said that although it was difficult to take the decision of layoff, but it was necessary for the future success of the company.
The company said despite the layoff, it will all its strategies remain unchanged, and it will continue to provide world-class products and services to its customers.
LEDVANCE is the €2 billion revenue company that has been carved out of German lighting giant Osram. LEDVANCE bundles LED products and traditional lamps with Osram’s ballast business.
On a strategic level, the company believes that the speed at which new products are brought to the market and the number of products come out every year are important.