Philips to cut 6,000 jobs after quarterly loss of 1.47B euros | Finance — paidContent

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Philips to cut 6,000 jobs after quarterly loss of 1.47B euros

By: MarketWatch

Royal Philips Electronics, Europeâ€™s largest consumer-electronics firm, on Monday says it swung to a fourth-quarter loss of 1.5 billion euros ($1.9 billion) as it wrote down the value of its stakes in LG Display and NXP and demand for its products continues to deteriorate, and unveiled plans to cut 6,000 jobs in 2009.

Related Stocks:

Koninklijke Philips Electronics N.V. ADS

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