Layoff 2023: Another company giant that shocked employees… 6 thousand layoffs
Philips Layoffs 2023: There is currently concern among IT employees. As the giant companies are announcing successive layoffs, they fear losing their jobs. Famous companies like Microsoft, Google, and Amazon have been known to cut jobs recently. Another great company has recently joined this list.
Giant companies are announcing back-to-back layoffs. Layoffs are announced to remove the additional burden from the company and to recover from losses. Recently, 6 thousand employees will be transferred from the Philips company. The company also announced this. The Philips company revealed that the mass recall of defective sleeping respirators has caused significant losses. As a result, 6,000 people have lost their jobs around the world. Three months ago, 4,000 jobs were lost. Recently, 6,000 more jobs were lost.
Philips Chief Executive Roy Jacobs has said that by 2025 the number of employees will decline further. Phillips said that 2022 will be a difficult year for its shareholders. Strong steps are being taken to improve its immediate performance.
The Amsterdam-based company posted a net loss of 105 million euros ($114 million) in the fourth quarter of 2022, mainly due to the withdrawal. The previous year it recorded a net loss of 1.6 billion euros. Philips announced a global recall of its sleep apnea treatment devices in 2021. To improve performance, Jacobs said, Philips needed to simplify the way they work to improve productivity. In this, by 2025, the number of employees around the world will decrease by about 6 thousand.
A total of 3,000 new jobs will be cut by 2023. The company is now under investigation by the US Department of Justice. Jacobs said Philips will focus on strengthening patient safety, quality management, and completing the Respironics withdrawal. It was revealed that the company produced 90 percent of the replacement equipment that patients had to buy. In early December, tests of the recalled respirators showed that they were within safe limits for use. But the final decision rests with regulatory authorities, he said.
