Dutch electronics giant Philips to cut 6,000 jobs worldwide

THE HAGUE, Netherlands –

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

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

The firm, 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 struggle in Ukraine.

CEO Roy Jakobs stated 2022 was “a very difficult year for Philips and our stakeholders, and we are taking firm actions to improve our execution and step up performance with urgency.”

He stated the job cuts will considerably scale back prices and make Philips a “leaner and more focused organization.”