Phillips to cut 1,600 Jobs
Royal Philips
Electronics NV said Tuesday it plans to cut 1,600 jobs at its health care division
in response to a global economic slowdown.
Spokesman Joon Knapen said the cuts fall mostly in the U.S., Germany and Netherlands, where its medical imaging operations are largest. The company will try to avoid forced layoffs but some were likely anyway, Knapen said.
The jobs represent 5 percent of the 32,000 employees at Philips' health care division.
Philips, an industrial conglomerate, is the world's largest lighting manufacturer and its health care division is one of the biggest, competing with General Electric Co. of the U.S. and Siemens AG of Germany.
Source: Manufacturing
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