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.

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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

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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

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He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

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