Top stories
HR & ManagementSubstance abuse is costing companies dearly: Here’s what they can do about it
Harmony Clinic 26 May 2025
More news
Marketing & Media
Capitec’s new jingle makes banking fees as easy as 1, 2, 3, 6, 10
Subscribe & Follow
Trending
Advertise your job vacancies
Jobs
- Brand Activations Coordinator Cape Town
- Marketing Coordinator Johannesburg
- Customer Services Representative Johannesburg
- Marketing Coordinator Cape Town
- Head of Commercial - Business Development Manager Johannesburg
- Internal Marketing Intern Cape Town
- Digital Marketing Manager Cape Town
- Junior Marketing Coordinator Cape Town
- Brand and Marketing Manager Johannesburg
- CRM and Lifecycle Manager Cape Town
Philips posts nearly $2B Q4 loss, plans 6,000 layoffs
Royal Philips Electronics, the Dutch conglomerate that makes lighting products, on Monday reported a fourth-quarter loss of 1.47 billion euros (US$1.9 billion) and said it would cut 6,000 jobs, blaming weak global economic conditions for poor business performance, asset write-downs and restructuring charges.
The job cuts at Philips, also one of the biggest makers of medical equipment and consumer electronics, come on top of 7,000 cuts in the fourth quarter. It currently employs 121,000 worldwide.
The Amsterdam-based company had posted a profit of 1.40 billion euros for the same period a year earlier, when Philips booked 1.2 billion euros in gains on the sale of stakes in companies.
