A New CEO Is Laying Off 4,000 Of Philips’ Workforce
Allwork
OCTOBER 24, 2022
This amounts to around 5% of the electronics company’s workforce, bringing its severance and other job cuts costs to around $295 million. . The fallout came in the form of a 60% drop in shares. . Despite the need for medical devices growing, Philips’ oversight led to a net loss of around $1.3 billion. .
Let's personalize your content