Philips will cut 6,000 jobs by 2025 in pursuit of improved performance

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Philips said on Monday (30) it will cut 6,000 jobs by 2025, including about 3,000 this year, as part of a plan to improve performance and boost value creation.

The Dutch health technology company, which said in October it was cutting 4,000 jobs, or about 5% of its 80,000-person workforce, said on Monday that the streamlined operating model will make it more agile and competitive, reducing the costs.

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The company made the disclosure as it reported a net loss for the fourth quarter of last year amid higher costs, but said it had seen some improvements in the period and was taking action to address operational challenges in an uncertain environment. .

Philips reported a net loss attributable to shareholders of 106 million euros ($170.6 million) compared with a profit of 157 million euros in the fourth quarter of 2021 and a company-compiled consensus loss of 16 million euros. .

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Source: CNN Brasil

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