FRANKFURT: German light bulb maker Osram, which is soon to be spun off by its parent, engineering giant Siemens, said on Friday it is planning to cut costs by 1.0 billion euros ($1.3 billion) by 2015.
As part of the cost-cutting programme, the group will sell factories, which will cut the 39,000-strong workforce by about 4,700 jobs, Osram said in a statement.
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