Philips (PHG, $12.90) to retrench more than 5...

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published in Blogs

Oct 25, 2022

Philips (PHG, $12.90) to retrench more than 5% of its workforce

Philips announced its plan to lay off 4,000 workers, which is over five per cent of the tech company's workforce. According to CEO Roy Jakobs, the move is intended to boost productivity and agility, (IANS reported), and to realize profitable growth potential and value creation for all the stakeholders.

Philips estimates that severance and termination-related costs to be approximately 300 million euros ($295 million).

The company reported a quarterly net loss of -1.33 billion euros (-$1.31 billion) compared with a profit of 2.97 billion euros in the year-ago quarter.

Related Tickers: PHG

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A.I. Stock Market Predictions: Head & Shoulders

Statistics for the Head-and-Shoulders Bottom Pattern The days where only hedge funds used algorithms to trade stocks are officially over. Now retail investors can use Artificial Intelligence (A.I. Here’s an example of the algorithm in action: Late last year, Tickeron’s A.I.

Sergey Savastiouk

published in Blogs

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3 Stocks to Buy if Coronavirus Second Wave Hits

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published in Blogs

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How to Become the Millionaire Next Door

The Golden Gate Bridge is always a fixture of these walks too, one of man's most beautiful creations. As we were walking, at one point she turned to me and said, "Man, I'll never have a million dollars."" My girlfriend is 27 years old and works as a graphic designer, making about $75,000 a year.

Alla Petriaieva

published in Blogs

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Is Ethereum’s Bomb about to Explode?

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published in Blogs

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published in Blogs

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published in Blogs

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published in Blogs

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published in Blogs

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US unemployment rate jumps to 14.7%, the highest in series history

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published in Blogs

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