Friday, March 29th, 2024

Layoffs: Fearing losses, the company will take away the jobs of 6,000 more employees, then announced retrenchment


Highlights:

Consumer electronics company Philips has a net loss of 1.6 billion euros in 2022.
Under the first phase, a total of 3,000 new jobs will be cut in the company in 2023.
Around 6,000 employees will be laid off globally by 2025.

New Delhi. Dutch consumer electronics and medical device company Philips after layoffs in several giants including Google, Twitter, Amazon, Meta and Facebook (Layoffs in Philips) Has also made a big announcement. This company will lay off 6,000 employees at the global level in the next 2 years. Earlier in October, the company had announced to reduce its workforce by 4,000. This deduction is in addition to

The Amsterdam headquartered company is facing losses globally due to Covid in China. Apart from this, the Russia-Ukraine war has also affected the company. The company has a net loss of 1.6 billion euros in 2022 while in 2021 the company made a net profit of 3.3 billion euros.

PressWire18 provides latest news, bollywood news, breaking news hollywood, top tech news, business standard news, indian economy news, world economy news, travel news, mumbai news, latest news mumbai loksabha election 2024, video viral news, delhi news, Only at Only at Presswire18.com

read this also- Heavy retrenchment, yet startups are the first choice for jobs, due to which the youth are attracted to them

‘Difficult decision, but necessary’
The company’s Chief Executive Officer (CEO) Roy Jacobs said that the year 2022 was very difficult for Philips and our stakeholders. “We are taking steps to improve our execution and performance.” Jacobs, who took over the reins of the company in October, said Philips needed to simplify the way it works to improve performance and productivity.

read this also- Jobs going around the world, India giving employment, increased jobs in these sectors and demand for professional people

Employees will be retrenched in two phases
Phillips said, 6,000 jobs will not be eliminated at once. Under the first phase, a total of 3,000 new jobs will be cut in 2023. At the same time, by 2025, around 6,000 employees will have to lose their jobs globally.

Philips has cited the loss caused to the company due to the recent product recall as the reason for the retrenchment. The company said that some time ago the company had recalled its products in large quantities due to faulty sleep respirators. Due to this, he is also facing many lawsuits in America.
At the same time, the firm incurred a loss of 105 million euros ($114 million) for the fourth quarter of 2022, compared to a total loss of 1.605 billion euros for the previous year.

(with input from AP)

Tags: amazon, Google, job loss, job news, Twitter

Source Link

No one will be aware of being online on WhatsApp, know how this feature works

Photo: CANVA It’s easy to turn off the online feature on WhatsApp Whatsapp Features: WhatsApp has launched many new features for the users this year. All these features are introduced for our convenience. So...

Lots of offers in the festive season, huge discounts on everything from credit cards to car and home loans.

Photo:FILE Festival offers The festive season has started. To capitalize on this opportunity, various types of attractive offers are being given to the customers by the bank. This includes offers ranging from car loan...

The list of IPO allotment of Ideaforge Technology has come, know here the complete process of checking the application

Photo: File Ideaforge Technology Ideaforge Technology IPO: The IPO of drone company Ideaforge Technology was well received by investors. 11 times subscription was received on the very first day. After looking at the company’s...