Lighting company Signify from Eindhoven will again save on costs. As a result, 900 jobs will disappear worldwide, says CEO As Tempelman during the presentation of the annual figures. The company, known for its Philips lamps, points to difficult market conditions. According to a spokesperson, 150 jobs will disappear in the Netherlands.
The current workforce intervention could affect all types of functions within the company, a spokesperson explains. The jobs are disappearing due to a combination of natural attrition, failure to fill vacancies and forced redundancies. The company hopes to save 180 million euros in costs.
Previously a reorganization
Signify still had more than 28,000 jobs in October, after the company also carried out a major reorganization in recent years.
“This will be a transition year for Signify. Our main task is to do better in a difficult market by working better and keeping costs under control,” says Tempelman.
Turnover decreased
The lighting manufacturer is dealing with, among other things, lower demand and the consequences of American import duties. Turnover fell by ten percent to 1.5 billion euros in the last quarter of last year.
Net profit was almost halved. In the last three months, 60 million euros remained, compared to 119 million euros in the same period a year earlier. Lower results were also achieved over the entire year.
