Philips

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27 - Manufacture of electrical equipment
27 - Manufacture of electrical equipment
2,200 jobs
Number of planned job losses
Job loss
Announcement Date
11 September 2012
Employment effect (start)
Foreseen end date
31 December 2014

Description

The Dutch electronics company Philips announced plans to cut 2,200 jobs worldwide by 2014. The company already reported a 4,500 jobs loss in 2011 (see factsheet).

Philips expands its Accelerate! transformation program, which is also meant to increase the company's overall savings. 

The company did not provide details on where exactly the jobs would be lost. 

UPDATE 25.10.2012: Philips announced that as part of the restucturing, 171 jobs will be cut at the head office of the lighting division in Eindhoven. Earlier in October it became clear that in the healthcare division 150 jobs will be cut in the town Best (NL).

Sources

  • 11 September 2012: Philips news center

Citation

Eurofound (2012), Philips, Internal restructuring in World, factsheet number 74103, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74103.