Philips (NYSE:PHG) stated Monday it’s chopping 6,000 jobs worldwide over the following two years. 

The information comes in keeping with a internet lack of €1.6B in 2022, down from a internet revenue of €3.3B final yr.

Moreover, the corporate had introduced job lack of 4,000 workers in October.

CEO Roy Jakobs stated 2022 was “a really tough yr for Philips and our stakeholders, and we’re taking agency actions to enhance our execution and step up efficiency with urgency.” He added the job cuts will considerably scale back prices and make Philips a “leaner and extra targeted group.”