Cree confirmed that the company has laid off approximately 2.5% of its employees at its Durham headquarters, reported the Journal Times. The company reported that local job cuts and an unspecified number of jobs that were eliminated out of “response to current business conditions.”

Osram has gained the services of Thorsten Müller as its new Head of Innovation and Research. The 39-year-old is currently the CEO of the Connected Devices and Solutions division at Bosch and will take up his new position as Head of Corporate Innovation at Osram on December 1, 2016. “Thorsten Müller is an acknowledged expert on the Internet of Things”, said Stefan Kampmann, Chief Technology Officer (CTO) of OSRAM Licht AG. “He will provide us with valuable impetus for the ongoing digitization and connectivity in the lighting industry and drive forward our transformation into a high-tech company.”

Start-up skincare company La Lumiere, LLC, creator of the innovative illuMask®, the world's first wearable light therapy mask, announced today that it has secured a $20 million Series B financing.  The investment included Johnson & Johnson Development Corporation (JJDC), the venture capital subsidiary of Johnson & Johnson, joining SWaN & Legend Venture Partners as institutional investors in the company.  The Series B investment is a culmination of efforts over the last 12 months to drive commercialization in the U.S and continued growth.