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Philips to cut 6,000 jobs
Nibble
The axeman cometh
Tuesday, 27 January 2009, 11:34
THE AXE HAS FALLEN at Philips with the Dutch electrical and electronics giant recording a rare quarterly loss.
More that 6,000 workers will be made redundant as Philips tries to claw back a loss of $1.9 billion during the last quarter of 2008.
Sales decreased by nine per cent from the same quarter the previous year. The last time Philips lost any cash was in 2003. µ
L'Inq
CNET
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...we'll be in a worldwide economic recession.