International. The global economic turbulence that has been experienced since 2008, forced the Philips company to undertake an ambitious restructuring plan, on which this week it announced the dismissal of 2,200 more employees.
This reduction is due to a modification in the company's cost reduction plan, which stood at 1,100 million euros, because the conditions of the economy remain difficult, a situation that is added to a high cost of pensions.
Frans Van Houten, executive chairman of the Dutch multinational, said that when they finish making these changes they will be a more agile company in innovation for the benefit of customers effectively around the world.
It should be remembered that these 2,200 layoffs are in addition to the 4,500 announced last year when the restructuring plan began, which at that time aimed to lower the company's operating costs by 800 million euros, but after what was announced this week it seems to indicate that they were not enough.
At the beginning of this plan, Philips had about 117,000 workers worldwide, but losses during 2011 that exceeded 1.2 billion euros affected the initial goal. Therefore, indicated the company's directives, that by 2014 they expect there to be a significant reduction in the cost of operations, which will be distributed 60% in personnel and 40% in structural reforms.
