Multinational Philips Lays Off More Than 6,000 Employees

Written by Roberta Souza

Published on 31/01/2023 at 09:44

Updated on 31/01/2023 at 13:06

Foto tirada em 30 de agosto de 2018. REUTERS/Piroschka van de Wouw/Foto de arquivo

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Approximately 13% of Philips employees were affected by the mass layoff since October 2022, due to the reorganization of the multinational

The Dutch technology and health multinational Philips made public, on this Monday (30), the layoff of 6,000 employees worldwide. The total job cuts reached 10,000, alongside the mass layoff in October 2022.

About 13% of the multinational’s employees have been laid off so far. According to Philips CEO, Roy Jakobs, it was a difficult measure to take, but necessary. The layoffs at the multinational will continue until 2025.

According to Jakobs: “The year 2022 was very difficult for Philips and our shareholders. We are taking firm measures to improve our effectiveness and urgently increase our performance.” This was one of the reasons for the mass layoff conducted by the company.

ARTICLE CONTINUES BELOW

Lost Profit?

Having lost around € 105 million (US$ 114 million) in the fourth quarter of 2022, Philips is still trying to recover from the large number of defective respirators. The recall has caused a 70% decrease in Philips’ market value.

Mass Layoffs Are Being Seen in These Early Days of 2023 and Require Quick Solutions to Curb Job Loss in Brazil

Various episodes of mass layoffs began as early as December 2022, which traumatized Brazilians. However, January is already announcing a 2023 in which some companies are preparing for possible downturns. In the first 15 days, over 100,000 workers across the country lost their jobs.

Mass layoffs are primarily affecting the technology sectors. The wave of mass layoffs in technology companies has spread from giants in the sector – such as Amazon and Facebook – to small and medium-sized enterprises, like the transportation app 99, and has the potential to spread to many more startups, an industry responsible for millions of jobs across the country. Find out more by clicking here.

Multinational Philips Lays Off More Than 6,000 Employees

Approximately 13% of Philips employees were affected by the mass layoff since October 2022, due to the reorganization of the multinational

Lost Profit?

Mass Layoffs Are Being Seen in These Early Days of 2023 and Require Quick Solutions to Curb Job Loss in Brazil

MEET PHILIPS IN BRAZIL, IN VARGINHA, MINAS GERAIS

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Multinational Philips Lays Off More Than 6,000 Employees

Approximately 13% of Philips employees were affected by the mass layoff since October 2022, due to the reorganization of the multinational

Lost Profit?

Mass Layoffs Are Being Seen in These Early Days of 2023 and Require Quick Solutions to Curb Job Loss in Brazil

MEET PHILIPS IN BRAZIL, IN VARGINHA, MINAS GERAIS

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

Secret chamber sealed 4,500 years ago found in the Pyramid of Khufu, and Hawass announces its opening to the world in 2026

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

While communities suffer from water scarcity and the advancing desert, women in Morocco use nets high up in the mountains to trap fog droplets, fill reservoirs, and transport drinking water through more than 10 km of piping.

China has begun the second phase of energy assistance to Cuba with a 120 MW solar generation plan, and the first result is a photovoltaic park with batteries that regulates voltage, controls frequency, and provides local autonomy to an island suffocated by chronic blackouts.

Germany installed vertical solar panels on a lake in Bavaria, and the result broke conventional logic: instead of producing energy at midday peak, the plant generates more early in the morning and in the evening, exactly when families turn on appliances and factories are in full swing.

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