Philips, the Dutch home appliance and medical device maker, said on Monday it will cut 6,000 jobs worldwide over the next two years, while also reducing its net profit from €3.3 billion last year to €1.6 billion in 2022. ($1.7 billion) net loss.
The job cuts are in addition to the 4,000 job cuts the company announced in October.
The Amsterdam-based company is facing economic headwinds, including a global recall of sleep apnea devices, Covid-related problems in China and the war in Ukraine.
CEO Roy Jacobs said 2022 is “a very challenging year for Philips and our stakeholders, and we are taking decisive action to improve execution and improve our performance as a matter of urgency.”
It said the job cuts would cut costs significantly and make Philips a “sleeker, more focused organization.”
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