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  1. Around 4,000 jobs
    Philips' new CEO announced plans on Monday to cut around 4,000 jobs following falling sales and after a massive recall slashed around 70% off the Dutch medical equipment maker's market value in the past year.

    Philips to cut 5% of workforce as new CEO acts to counter ... - Reu…

    www.reuters.com/business/philips-cut-4000-jobs-after-medical-equipment-recall-2022-10-24/
    www.reuters.com/business/philips-cut-4000-jobs-after-medical-equipment-recal…
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  2. People also ask
    What happened to Philips?
    Philips is in talks with the U.S. Department of Justice on a settlement following the recall. Comparable sales dropped 6% to 4.3 billion euros in July-September as Philips said supply chain problems were worse than anticipated and would continue to weigh on sales in the last months of 2022.

    Philips to cut 5% of workforce as new CEO acts to counter ... - Reuters

    reuters.com
    Is 2022 a difficult year for Philips?
    CEO Roy Jakobs said 2022 was “a very difficult year for Philips and our stakeholders, and we are taking firm actions to improve our execution and step up performance with urgency.”

    Dutch electronics giant Philips to cut 6,000 jobs worldwide

    apnews.com
    Why did Philips lose 30 billion euros?
    Philips has lost around 30 billion euros of its market value since it shocked investors in June last year by recalling 5.5 million ventilators used to treat sleep apnoea, over worries that foam used in the machines could become toxic. ($1 = 1.0155 euros) The Reuters Daily Briefing newsletter provides all the news you need to start your day.

    Philips to cut 5% of workforce as new CEO acts to counter ... - Reuters

    reuters.com
    Why did Philips scrap 6,000 jobs?
    REUTERS/Piroschka van de Wouw/File Photo Purchase Licensing Rights AMSTERDAM, Jan 30 (Reuters) - Dutch health technology company Philips (PHG.AS) will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the safety of its products following a recall of respiratory devices that knocked off 70% of its market value.

    Philips to cut 13% of jobs in safety and profitability drive

    reuters.com
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  3. Reuters
    https://www.reuters.com/business/philips-cut-40…

    Philips to cut 5% of workforce as new CEO acts to …

    WebAMSTERDAM, Oct 24 (Reuters) - Philips' (PHG.AS) new CEO announced plans on Monday to cut around 4,000 jobs following falling sales and after a massive recall slashed around 70% off the Dutch...

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    Philips announces 4,000 layoffs after ventilator recall - WTAE
    wtae.com
    Philips to slash over a thousand jobs in new reorganization: …
    nltimes.nl
    Philips Layoffs 2023: What to Know About the Latest PHG …
    investorplace.com
    Philips Annual Report 2023 | Philips Results
    results.philips.com
    Philips to Cut 4,000 Jobs as Big Recall, Supply Snags Hit …
    wsj.com
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  4. Financial Times
    https://www.ft.com/content/807d7fc1-81ba-42c6-b87a-5ba6c46a72a5

    Philips to cut 4,000 jobs worldwide after hit from legal …

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    Philips Job Cut: Company to Reduce Its Workfoce to Save …
    bloomberg.com
    Philips to cut 4,000 jobs as recall losses deepen - Tech Xplore
    techxplore.com
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  5. Reuters
    https://www.reuters.com/markets/europe/philips...

    Philips to cut 13% of jobs in safety and profitability drive

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    Job cutoffs: Philips Cuts 6,000 Jobs After Sleep Device …
    ndtv.com
    Philips restructuring: Massive layoffs and recall of sleep …
    nltimes.nl
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  6. The Wall Street Journal
    https://www.wsj.com/articles/philips-to-cut-4-000...

    Philips to Cut 4,000 Jobs as Big Recall, Supply Snags Hit Earnings

  7. AP News
    https://apnews.com/article/philips-electronics...

    Dutch electronics giant Philips to cut 6,000 jobs worldwide