Philips to lay off 6,000 workers, company in huge loss

Medical equipment and electronics maker Philips, which is facing financial difficulties, has said that it will lay off 6,000 workers. The company has been hit by a large number of recalls of defective sleep respirators. Philips laid off 4,000 workers a few months back.

The company’s chief executive Roy Jakobs said that Philips had to make the difficult but necessary decision to cut the workforce over the next two years. “The past year has been difficult for Philips and our stakeholders. We are taking steps to improve performance,” Jakobs said in a statement. This Netherlands company had a loss of 105 million euros in the fourth quarter of the previous year. for the whole of last year company The loss was 1.6 billion dollars. About two years ago, Philips recalled a large number of its appliances used to treat people with sleep apnea. These appliances were feared to have a bad effect on the health of the patients.

Jakobs, who took over Philips in October last year, said the company needed to improve performance as well as improve work practices and productivity. Philips began as a lighting firm more than 130 years ago. There have been major changes in this company over the years. It has sold many of its assets and focused on making electronics healthcare products.

Global E-Commerce Company Amazon Last year also laid off workers from its Devices Group. The company plans to cut around 10,000 jobs. These will include retail and human resources divisions. Amazon executive Dave Limp told in a blog post that the company has decided to reduce the size of its devices unit. He had said, “We are facing an uncertain macro economic situation. We have focused more attention in the last few months on the areas that are most important to our customers and business.” Voice assistant Alexa is one of the top-selling Amazon devices. However, company founder Jeff Bezos says that these devices are sold at a discount and it is sometimes less than the cost.