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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.
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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.
MEET PHILIPS IN BRAZIL, IN VARGINHA, MINAS GERAIS
