126 | theceomagazine.com
Gigaset’s future is very bright. But it wasn’t
always that way. It comes back to a very tough
decision made in late 2015, the consequences of
which incoming CEO Klaus Wessing had to deal with.WORDS ADRIAN FLORES • IMAGES GIGASETI
n the first half of 2015, Gigaset’s revenue dropped three per cent
to €143 million. Meanwhile, the digital enhanced cordless
telecommunications (DECT) phone market, its longstanding
specialty niche, was further shrinking and in continuous freefall.
Amid such a glum outlook, the writing was on the wall for the
German telecommunications firm. It could no longer solely rely
on its core business of DECT phones. In November that year, Gigaset
made the drastic and difficult decision to cut 550 jobs over three years- almost half of its 1,250-strong workforce. Around half of those job
losses would come from its Munich headquarters and its Bocholt site. »
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