Last October, the company announced it was cutting 4,000 jobs as it faced “multiple challenges,” which was reflected in its third-quarter results.
The Dutch health technology company went on to say that its simplified business model will make it more agile and competitive while reducing costs, it reports.
The job cuts announced Monday come on top of the job cuts outlined in October.
Philips stated that it will now focus on leveraging the full value of its portfolio through a focused organic growth strategy.
In addition, the Market Watch report said the disclosure came as the company reported a net loss for the fourth quarter of last year due to higher costs, but it also stated that it has seen some improvement over the period and is taking steps to address operational issues. to deal with. challenges in an uncertain environment.
The technology company, which sells products such as MRI scanners and ultrasound machines, reported a net loss attributable to shareholders of EUR 106 million ($170.6 million) in the fourth quarter of 2021, compared to a profit of EUR 157 million in the previous quarter.
The company stated that cost inflation hurt its performance, which was partially offset by price and productivity measures, the report said.
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