Philips announced that it plans to further lay off 6,000 people worldwide by 2025, half of which will be completed within this year. This is an additional layoff on top of the 4,000 layoffs previously announced by the company. Philips expects the restructuring to incur costs of around 300 million euros in the coming quarters. | Related Reading (Wall Street Insights)
Wanguan Mountain
If I remember correctly, Philips has laid off a wave of employees in the past few months, about 4,000 people. At that time, other large companies had not yet started large-scale layoffs. The loss of 6,000 people is not surprising when compared with the number of layoffs of 10,000 in other companies.
It’s no wonder that Philips suffered serious losses throughout last year, and its performance was not good. In the new year, if it does not lay off a wave of employees to save some costs, the financial report will be even worse.
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