- Index hide1 Last October, Philips made a cut of 4,000 people, this was decided with the main objective of reducing expenses after registering losses of around 1,600 million euros.3 The company “Glovo” announced a cut of approximately 250 people, it will reduce its workforce by 6.5 percent.
Last October, Philips made a cut of 4,000 people, this was decided with the main objective of reducing expenses after registering losses of around 1,600 million euros.
In less than a year, around 15 companies in the sector have laid off more than 60,000 workers.
The company “Glovo” announced a cut of approximately 250 people, it will reduce its workforce by 6.5 percent.
Phillips has joined the mass layoffs, as the Dutch technology company recently announced that it plans to cut at least 6,000 employees.
More and more companies are joining the mass layoffs, as this technological pandemic has emerged since last year and at the beginning of 2023, this continues to increase.
The pandemic of mass layoffs
Recently, Microsoft announced the layoff of 10,000 employees, which represents 5 percent of its workforce, the company announced that this cut will take place during the current fiscal quarter, which ends on March 31, the company justified that this measure is part of a broader plan to reduce expenses. In the case of Google, the layoffs were 12 thousand people, 6.4 percent of the total, said company has expressed its decision through a statement, commenting that, after years of spectacular growth, the company is facing a very different economic reality. In the case of Amazon, the cut has been one of the largest, since its objective is to eliminate more than 18,000 jobs, including the layoffs that it announced last November, the date on which it had already cut some 10,000 jobs. However, these cases have not been the only ones, since this wave of layoffs is considered the largest, since large companies such as the conglomerate of Goal that laid off 11,000 workers; in addition to salesforcewhich made 7 thousand; Twitterwhich got rid of 3 thousand 700, Tesla laid off 6 thousand. Likewise, a reduction in workers in the company has also just been confirmed “balloon” (Spanish company of delivery) that will lay off approximately 250 people and reduce its workforce by 6.5 percent.
In less than a year, around 15 companies in the sector have laid off more than 60,000 workers. Although the amount could vary, depending on the source, since according to the Layoffs.if platform, at least 1,026 technology companies laid off more than 154,000 people during 2022.
Philips joins mass layoffs, plans to cut 6,000 employees
Phillips is a Dutch company dedicated mainly to the electronics and healthcare sectors. This Monday, said company announced that it will lay off 6,000 people around the world to reduce costs due to the loss of the company, since last year was not good for the company, because last October, there was a cut of 4 thousand people, this was decided with the main objective of reducing expenses after registering losses of around 1,600 million euros.
In the statement, the company has stated that its sales decreased significantly, resulting in large economic losses, as well as certain factors such as reduced sales in China or the Russian war in Ukraine, which is why the company needs a business reorganization, which includes a workforce cut of 6 thousand employee positions that covers until 2025.
“Our strategy will focus on organic growth through patient- and people-focused innovation at scale, with strong improvement in execution as a key value driver. This will be accomplished by strengthening our patient safety and quality management and completing the Respironics recall. We will also urgently improve supply chain reliability to improve performance and simplify the way we work to improve our agility and productivity. This includes the difficult but necessary further reduction of our workforce by around 6,000 positions worldwide by 2025.
I am confident that these comprehensive actions will put Philips on a progressive path towards value creation with sustainable impact to achieve mid-single-digit comparable sales growth and adjusted EBITA margin of 10-10 by 2025, expanding further to medium to high level,” he said. Roy Jakobs, CEO ofPhilips.
2022 has not been such an easy year for companies since they have seen the need to cut staff in order to reduce expenses, since many of these companies have had a notable reduction in profits, unfortunately this has been like a pandemic for large companies and this is expected to continue during this year.
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