Jan 26, 2024 at 8:39 AM Update: an hour ago
The Dutch Signify will cut a thousand jobs, CEO Eric Rondolat reports in an explanation of the annual figures that were released on Friday. Almost half of these concern jobs in the Netherlands.
Signify, which originated from Philips, is experiencing “adverse market conditions”, according to the CEO. Things are going particularly well in China, partly due to the country’s weak economy.
The fact that things are difficult is also reflected in the figures. The revenues of Philips’ former lamp division fell last year from 7.5 to 6.7 billion euros, a drop of almost 11 percent. Net profit fell even faster, from 532 to 215 million euros. That means a shrinkage of no less than 60 percent.
At the end of last year it became clear that the company had plans to save 200 million euros and that it would also look at the workforce. It was not yet clear how many jobs would disappear.
Signify has been trying to slim down for some time now. For example, the workforce decreased last year from 34,600 FTE to less than 32,000 FTE.
Image: ANP
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2024-01-26 07:39:53
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