Philips NV Joins the Caravan of Layoffs, Cutting 8% of Its Total Workforce

King Newswire

Amsterdam, Netherlands The, 2nd Feb 2023 – Philips NV, a leading technology company headquartered in the Netherlands, announced today that it will lay off 6,000 employees, or 8% of its total workforce, in an effort to recover losses incurred by the recall of ventilators. The layoffs will take place globally, affecting employees across all business units and levels.

The company stated that the recall of ventilators, which were found to have defects, has had a significant impact on its financial performance. The decision to lay off employees was not made lightly, but was deemed necessary to secure the long-term success of the company.

Philips NV will work closely with affected employees to provide them with support during the transition, including severance packages, job placement services, and outplacement counseling. The company has also committed to reducing the impact of the layoffs on its communities by supporting local job placement initiatives.

In a statement, the CEO of Philips NV said, “This was a difficult decision, but it was necessary to ensure the long-term success of our company. We understand the impact this will have on our employees and their families, and we are committed to supporting them through this transition. We are confident that this will put us on a path to sustainable growth and profitability in the future.”

The layoffs come as the latest in a series of job cuts in the technology sector, as companies struggle to remain competitive in an ever-evolving market. However, Philips NV remains optimistic about the future, with plans to invest in new technology and product innovation to stay ahead of the curve.

About Philips NV

Philips NV is a Dutch multinational technology company that specializes in the development, production, and distribution of medical equipment, lighting, and consumer electronics. Founded in 1891, the company has grown to become a leader in its field, with a presence in over 70 countries and a workforce of over 70,000 employees worldwide. Philips NV is committed to improving people’s lives through innovative solutions that enhance health, well-being, and sustainability.

Media Contact

Organization: Philips NV

Contact Person: Mr. Ben Zwirs


Phone: +31615213446


City: Amsterdam

Country: Netherlands The

Release Id: 0202232371