WILMINGTON, MA — Lighting manufacturer LEDVANCE, whose U.S. corporate headquarters is located in Wilmington (200 Ballardvale Street), recently announced it has laid off 90 of its approximately 1,500 American employees.
“The layoff has affected primarily central functions at LEDVANCE’s headquarters in Wilmington, Massachusetts,” the company said in a statement. “We appreciate the valuable contributions our impacted employees have made to the lighting industry and our customers, and are doing what we can to support them. This has been a difficult decision, but necessary for our future success.”
The layoffs are due, in large part, to the lighting market’s transformation from traditional lights to LED, which forced the company to “examine its internal structures more closely.”
“[LEDVANCE] remains dedicated to strengthening our LED business with new and innovative products, while remaining strong in traditional lighting despite a declining market,” a company spokesman wrote. “We are confident that our streamlined processes and more agile approach, together with our deep heritage and expertise, will drive our business forward.”
LEDVANCE, formerly owned by the Munich-based Osram, opened its U.S. headquarters in Wilmington just 22 months ago in January 2016. Osram recently sold LEDVANCE to an investor-led Chinese consortium for $529 million in March 2017.
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