January 20, 2025 04:15 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Kolkata court sentences convict Sanjoy Roy to life imprisonment in RG Kar rape-murder case | Supreme Court stays proceedings against Rahul Gandhi in defamation case over remarks against Amit Shah and BJP | Invasion of our borders will come to a halt: Donald Trump promises crackdown on immigration ahead of inauguration | Kolkata court convicts civic volunteer Sanjoy Roy in RG Kar rape-murder case | Saif was stabbed repeatedly, he tried to protect Taimur and Jeh: Kareena Kapoor Khan records statement with police | Escaped death by 20-25 minutes: Sheikh Hasina alleges opposition wanted to kill her | Cabinet's decision on 8th Pay Commission will improve quality of life, give boost to consumption: PM Modi | 'It has been an incredibly challenging day': Kareena Kapoor Khan requests privacy after Saif Ali Khan's stabbing incident | 'Distorting history': Mamata slams Mohan Bhagwat over his Ram Temple consecration 'marking true independence' remark | Saif Ali Khan stabbing incident: Actor who received six wounds is out of danger, one accused identified
Philips
Wikipedia Commons

Philips to scrap 6,000 jobs in its bid to improve profitability

| @indiablooms | Jan 30, 2023, at 08:35 pm

Amsterdam:  Dutch health technology company Philips on Monday said it will scrap 6000 jobs to restore the company's profitability, media reports said.

The company's recent decision to recall respiratory devices knocked off 70 percent of its market value.

Half of the job cuts will be made this year, the company said, adding that the other half will be realized by 2025, reports CNBC.

New Chief Executive Officer Roy Jakobs told CNBC’s “Squawk Box Europe” on Monday it was a “necessary intervention to help us to become competitive and lean in the way we go forward in the market.”

“We have been working very hard to refocus on health technology, and we have now built a very strong portfolio there where we have 70% of number one or two positions,” he also told CNBC.

“But we have not been extracting the value out of those segments because we did not execute well. So the strategy I present today is very much focused on organic growth, focusing on the portfolio that we have and getting the most out of them.”

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu