Austrian AMS-Osram announces expansion of cost-cutting plan

Although Austria's AMS-Osram was profitable in the third quarter of 2024, the company said it still plans to "expand" its "rebuilding base" cost-cutting plan, affecting more than 500 employees. AMS-Osram, which has about 20,000 employees worldwide, said more than 500 non-production employees will be affected, adding that about a third of the positions will be retained but will be moved to the "lowest-cost" countries.