Philips Israel laying off dozens of employees as part of global cutbacks
Philips Israel laying off dozens of employees as part of global cutbacks
The Dutch technology giant announced last month that it would be cutting 4,000 jobs worldwide
Philips Israel is laying off dozens of employees as part of global cutbacks which will see the Dutch technology company part ways with around 4,000 employees. Philips Israel employs around 1,500 people.
Most of the layoffs, which will total 5% of the company’s workforce, will take place in the U.S. and the Netherlands. Philips Israel is active in R&D, manufacturing, marketing, sales, and services of medical equipment and software.
“We are dealing with many challenges and after several successive quarters of declining sales and profitability, while costs are rising, we are forced to take immediate actions in order to significantly reduce our expenses,” Philips said in a statement. “Therefore we are forced to take the painful but necessary decision to reduce our workforce by around 4,000 jobs worldwide. We will act according to all the accepted laws in Israel and with the utmost respect towards the employees who will be affected. While we continue to strengthen the company in various ways during these challenging times, we are focused on the safety of the patients, quality, and the support of our clients.”
