(MENAFN) Austrian lighting group Zumtobel unveiled plans to reduce costs to overcome weaker business environment after reporting lower second quarter sales and profits, Reuters reported.
CEO Harald Sommerer said the company is seeking to adapt its costs "rapidly" to the level of demand. The strategy would include "adjusting personnel capacity" and cutting selling and administrative costs.
The group's sales declined by 1.7 percent in the fiscal second quarter to USD438 million.
The Dornbirn-based company is the European market leader in luminaire lighting units and the global number four in the components business, which makes lamp control gear, lighting management systems and LED modules.
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