Essential reading for retailers and suppliers in the home improvement market

Philips to cut 4,500 jobs

Published: 21 October 2011
Electronics firm Philips is set to make 4,500 people redundant as part of a cost-cutting programme which aims to save the company €800m.
Philips to cut 4,500 jobs
Philips says 1,400 of these jobs are in the Netherlands, but has not confirmed where the remaining redundancies will be made. The company has several offices and manufacturing sites in the UK.

Ceo Frans van Houten called the move "a regrettable but inevitable step... to become more agile, lean and competitive", as the company saw net profit decline 85% to €76m in its third quarter.

EBITA declined by €279m to represent 6.8% of sales, which grew by 6%, partly driven by growth in lighting.

Lighting sales were 8% higher year-on-year, driven by double-digit sales growth in lamps and professional luminaries, partly offset by a sales decrease in the Lumileds business and consumer luminaries. LED-based sales grew 32% compared with Q3 2010, and now represent 15% of all lighting sales at the company.

Comments

Published prior to March 2014
By leslie banks
I m not surprised that sales are down at Philips lumileds business and consumer luminaries business , my experience is that Philips is one of the most appalling suppliers I have ever had to deal with , from refusing to sell LED lamps to massive out of stocks ( no pun intended ).
The lack of joined-up management and incompetent telesales has lead us to removing 80% of the stock lines we used to carry from Philips . This once great brand is now just a poor shadow of its former glory.

(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

Latest reader comments

re: Carl Kammerling Fusion 2021 Trade Promotion – Filled with exciting new deals!

MIKE
GOOD AFTERNOON,WE USED TO DEAL WITH YOUR COMPANY MANY YEARS AGO, BUYING LARGE STOCKS OF DELETED AND RETURNS ITEMS.IF YOU HAVE ANY CLEARANCE ...

re: Toolbank

Bilal Ali
Hi Trust you are doing great. My name is Bilal Ali. I am the owner of Azaan International Ltd, a company specialized in products. We are ...

re: Woolworths staff reunited by new website

John Zullo
Hi I'm trying to find Lisa assistant manager of woolworths in the metro centre 1999 I only now her by her 1st and middle name Lisa Marie ...

re: Planning application submitted for new Homebase store in Abingdon

Gel
They closed their store last year!http://www.oxfordmail.co.uk/news/17570442.homebase-abingdon-starts-closing-sale/...

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

Most read stories