Multinational corporation Philips intends to cull thousands of jobs in a bid to boost profitability as the company tries to refocus on health technology, a decision which comes after shares crashed following a recall of its respiratory devices in 2021. Amsterdam-based Philips plans on scrapping 6,000 jobs, with half of the cuts to be implemented…
Philips to Layoff 6,000 More Workers as Company Struggles With Profitability
January 30, 2023
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Business & MarketsCompanieseconomyfiring employeesPhilips Electronics N.V.recessionRespiratory Devicesleep therapy devicesstaff layoffs
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US FDA Labels Baxter’s Respiratory Device Recall as Most Serious
The U.S. Food and Drug Administration on Thursday classified the recall of some Baxter International Inc’s lung therapy devices as the most serious type after reports of two deaths. Medical device maker Baxter in late April recalled about 268 devices distributed between May 28, 2020 and April 19, 2022. The device, Volara, is used to…
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