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Device recall and supply chain issues prompt Philips to announces layoffs

Technology company Philips plans to cut an estimated 5% of its workforce, about 4,000 positions, due to losses caused by the recall of a sleep apnea product as well as supply chain issues, according to information released by the CEO in third-quarter results. The layoffs are expected to be concentrated in the United States and the Netherlands. The Amsterdam-based conglomerate ....

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Philips' Q3 Performance Impacted by Operational and Supply challenges; Company is Taking Immediate Actions to Restore Performance

Philips' Q3 Performance Impacted by Operational and Supply challenges; Company is Taking Immediate Actions to Restore Performance
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