Sunday, April 2, 2023

Philips is cutting another 6,000 jobs

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medical technology

Philips will cut another 6,000 jobs

The ailing medical technology manufacturer Philips wants to increase profitability through further massive job cuts. In addition to the approximately 4,000 job cuts announced in October, another 6,000 are to be cut.

Published: 5 minutes ago

Philips continues to massively cut jobs. The medtech group wants to improve profitability in this way. (Archive image)

At the end of September last year, Philips employed just over 79,000 people. With the austerity course, the recently low operating return should be driven back into the double-digit range. as the group announced on Monday. In addition to cost savings, Philips also wants to achieve this through stronger growth again.

Meanwhile, Philips ended a pitch-black 2022 with at least a good fourth quarter. Sales increased by ten percent to 5.4 billion euros. Analysts, on the other hand, had expected a slight drop in sales.

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