Philips has announced that as part of its corporate restructuring program “Accelerate!” 2.200 jobs will be cut at locations around the world. The Dutch company that was born in the late 1800s producing light bulbs in Eindhoven will cut costs from 800 million euros to 1,2 billion in 2014.
The cuts will be concentrated in the medical equipment and lighting systems sectors. The corporate restructuring program which will serve, as specified in the company's note, to reduce inefficiencies was determined by the negative economic situation and the growing level of competition.
