Philips announces more jobs cuts; 6,000 employees to be fired

11:00:00 PM, Monday 30th of January 2023 | in business

Dutch health technology company Philips has announced that it plans to lay off 6,000 more employees. The company has been battling losses following the recall of its faulty sleep apnea treatment devices. The recall led to Philips losing 70% of its market valuation. The new job cuts will be in addition to the termination of 4,000 roles the firm announced in October last year.