Dutch medical technology manufacturer Philips will slash 6,000 jobs globally by 2025 in a bid to cut costs and improve competitiveness.
Some 3,000 positions would be shed by the end of this year, Philips said.As at the end of September 2022, Philips had just over 79,000 employees.
Chief Executive Officer Roy Jakobs said in a statement that 2022 was a very difficult year for Philips and stakeholders.Philips reported Monday its fourth-quarter net loss was 105 million euros , compared to a profit of 151 million euros in the same period a year ago.Loss from continuing operations attributable to shareholders was 0.13 euros, compared to the previous 0.16 euros.
Adjusted earnings per share from continuing operations was 0.41 euros, compared to 0.57 euros a year ago.Adjusted earnings before interest, taxes and amortisation was 651 million euros, compared to 647 million euros a year earlier. Philips said its supply chain conditions remain challenging and it has been affected by lower demand for COVID-19-related products.
The company anticipates a slow start to the year considering the slackening of consumer demand but a gradual improvement over the course of the year.
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