Profits plummet and jobs follow suit. The Dutch electronics giant Royal Philips Electronics announced a staff reduction plan which envisages overall 4.500 redundancies, of which 1.400 in the Netherlands. The cuts are part of an overall strategy that aims at reduce costs by around 800 million euros.
According to the numbers reported by the Bloomberg agency, the company closed the third quarter with a sharp drop in earnings, down by as much as 85%: just 74 million euros, against 524 collected in the same period last year. Turnover also fell, going from 5,46 to 5,394 billion euros.
In the meantime, negotiations with the Hong Kong TV to sell the unit that produces televisions: "If we don't reach an agreement - explains the managing director, Frans van Houten - we will study alternatives".
