"In addition to the reduction of its workforce by 4,000 roles announced in October 2022, which is being implemented as planned, Philips will reduce its workforce by an additional 6,000 roles globally by 2025, of which 3,000 will be implemented in 2023 in line with the relevant local regulations and processes," the company said in a statement.
The company explains the decision to reduce the workforce by the need for restructuring under a new high performance strategy. In 2022, the company faced serious losses caused by, among other things, the recall of Respironics breathing devices.
"Strengthening patient safety and quality is Philips’ highest priority. This includes completing the Respironics recall and test program in 2023 and managing the impact of the proposed consent decree, as well as the ongoing investigation by the US Department of Justice and the litigation related to the Respironics recall," the company added.
As of December 2022, Philips employed around 77,000 people globally.