A planned reorganization with a large round of layoffs will demand much of the attention on Monday when health-tech group Philips presents its 2022 results. According to insiders at the Eindhovens Dagblad, at least a thousand jobs will disappear just in the Netherlands. Globally, it could mean more jobs.
The plans to cut jobs come in a previous round of layoffs that CEO Roy Jakobs implemented in October. Then 4000 jobs disappeared, 400 of them in the Netherlands.
We will also review the status of the recall of sleep apnea devices. Philips wants to complete that recall earlier this year, but even then, there are still outstanding issues that the company may be able to shed more light on. For example, Philips is still in discussions with the US regulator FDA and the US judiciary about the conditions the company must meet before it can market sleep apnea devices again. There are also a number of lawsuits that could lead to damages.
Lost
Analysts expect the medtech company to have lower revenue than in 2021, and that this too will result in a loss. In addition to problems with sleep apnea devices, Philips continued to suffer from supply chain disruptions and high prices for materials and energy. The supply chain should stabilize this year, believe the followers of Philips. Among other things, the reopening of China after years of coronavirus restrictions contributes to this.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
