Royal Philips Electronics to cut 2,200 additional jobs

Royal Philips Electronics said today that it cut 2,200 additional jobs to target an extra €300m in savings from the world’s largest lighting company as economic conditions deteriorate.

Philips had already targeted 4,500 job losses.

Headquartered in the Netherlands, Philips employs over 122,000 employees with sales and services in more than 100 countries worldwide. With sales of €22.6bn in 2011, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in male shaving and grooming, portable entertainment and oral healthcare.

Philips was founded in 1891 when Anton and Gerard Philips established Philips & Co. in Eindhoven, the Netherlands. The company begun manufacturing carbon-filament lamps and by the turn of the century, had become one of the largest producers in Europe…

via Markets: Royal Philips Electronics to cut 2,200 additional jobs.