Dutch electronics big Philips to chop 6,000 jobs worldwide

THE HAGUE, Netherlands (AP) — Dutch client electronics and medical tools maker Philips stated Monday it’s slicing 6,000 jobs worldwide over the following two years because it revealed a web lack of 1.6 billion euros ($1.7 billion) in 2022, down from a web revenue of three.3 billion euros final 12 months.

The job losses come on high of a discount of 4,000 employees the corporate introduced in October.

The corporate, which has its headquarters in Amsterdam, is reeling from a worldwide recall of sleep apnea machines and financial headwinds together with COVID-related points in China and the battle in Ukraine.

CEO Roy Jakobs stated 2022 was “a really tough 12 months for Philips and our stakeholders, and we’re taking agency actions to enhance our execution and step up efficiency with urgency.”

He stated the job cuts will considerably cut back prices and make Philips a “leaner and extra targeted group.”