The recall of certain devices has dropped the group’s market value by 70 %.
by MO12345lemonde with AFP and Reuters (with AFP)
The Dutch group Philips announced, Monday, January 30, the abolition within 2025 of 6,000 jobs, after losses linked to a recall of respiratory apparatus for the apnea of defective sleep which has been leading it for months.
This new reduction in workforce, “difficult but necessary”, is added to the abolition of 5 % of its workforce, or 4,000 jobs, announced by the group in October, said the CEO of Philips, Roy Jakobs .
Half of the job cuts will be made this year, said the Dutch health technology company, adding that the other half will be carried out by 2025.
The company faces the rewoods of millions of fans used to treat sleep apnea, because of suspicion of toxicity of the foam used in these devices. This recall has made its market value fall by 70 %.
Reduction of the workforce should make it possible to identify a margin of EBITA (earnings before interest, taxes, depreciation, and cushioning, in French “benefit before interest, taxes and depreciation”) of approximately 10-14 % (“Low teens “) by 2025, and about 15-19 % (” mid to high teens “) beyond, with growth in a sales figure on a comparable perimeter, underlined Philips.