(Reuters) - Industrial lighting products maker Dialight Plc (>> Dialight Plc) said it would cut about 130 jobs, or around 12 percent of its workforce, excluding direct labour, nearly two months after it warned on full-year underlying operating profit.

Dialight, which was once part of the Dutch giant Philips (>> PHILIPS), said on Friday the cuts would help it address inefficiencies and reduce operating costs by more than 3 million pounds per year on a run rate basis.

The programme would lead to savings of more than 1 million pounds in the current financial year, although the benefit would be offset by cash costs of roughly the same amount, the company said.

(Reporting by Esha Vaish in Bengaluru; Editing by Anupama Dwivedi)

Stocks treated in this article : PHILIPS, Dialight Plc