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Koninklijke Philips N.V. (PHI1.DE)
- MarketWatch
Philips says it will cut 6,000 extra jobs by 2025 as it swings to a loss
The Dutch technology-health company said its performance was hit by cost inflation that was partly offset by pricing and productivity measures.
- Reuters
UPDATE 3-Philips to cut 13% of jobs in safety and profitability drive
Dutch health technology company Philips will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the safety of its products following a recall of respiratory devices that knocked off 70% of its market value. The new reorganisation brings the total amount of job cuts announced by new Chief Executive Roy Jakobs in recent months to 10,000, or around 13% of Philips' current workforce. Philips shares traded up 5.5% at 0855 GMT, helped by fourth-quarter earnings which were much better than expected.
- Reuters
Philips to cut 13% of jobs in safety and profitability drive
AMSTERDAM (Reuters) -Dutch health technology company Philips will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the safety of its products following a recall of respiratory devices that knocked off 70% of its market value. The new reorganisation brings the total amount of job cuts announced by new Chief Executive Roy Jakobs in recent months to 10,000, or around 13% of Philips' current workforce. Philips shares traded up 5.5% at 0855 GMT, helped by fourth-quarter earnings which were much better than expected.
