After registering large losses in 2022, the electronics company Philips announced a new layoff template on Monday, this time in order to reduce costs; some are calculated 6,000 jobs for 2025, of which 3,000 are already subtracted for this year.
The managers of the Dutch multinational assured that 2022 was one of the most difficult years, registering close to 1,500 million euros in losses. For this reason, the company has made firm decisions in favor of the company, such as the 4,000 layoffs they made in October of last year.
“Simplifying the way you work to increase productivity,” was what Roy Jakobs, CEO of Philips, said about the massive cuts in the company, which had a payroll in 2022 of approximately 79,000 people around the world.
Now with the announcement of cuts, shares of the Amsterdam-based company shot up to a 6.50% on the pan-European Euronext stock exchange, that is, about 16.50 euros per share. However, the withdrawals from the market of its controversial respirators to treat sleep apnea have in recent months reduced shares to 40%, 10% less than in the previous three years.
The company also has been affected by the war between Ukraine and Russia, in addition to the reduction in sales in China. Philips believes that this cut strategy will help make the company “more agile and competitive” and will enable “significantly reduced costs,” the company said.
Revenue in the fourth quarter of last year amounted to 171 million euross, product of some improvements in the supply of components that increased sales to about 5,400 million euros, However, this was not enough to stop the large losses of some 1,529 million euros registered in 2022.
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Source: La Opinion
