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  • Submitted To:-Prof. Ridhi Agarwal Submitted By: - Akriti Hamirwasia Amit Jalan Khushboo Gulgulia Parinita Agarwal Shirish Jhajharia Vishal Joshi

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    Koninklijke Philips Electronics N.V. is a Dutch electronics company organized into sectors including consumer lifestyle, lighting, and healthcare. Philips plans to cut 4500 jobs globally as part of an 800-million euro cost-cutting scheme by 2014, with 60% from job cuts and 40% from other structural costs. This includes potentially cutting 1400 jobs in the Netherlands and 200 jobs in India out of a total of 9000. The reasons for the cuts include a 1.6 billion euro loss last quarter from lack of innovation, joining a TV joint venture that requires showing profits, the euro crisis, and a 2 billion euro share buyback. The document recommends improving R&D and innovation over job cuts,

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    Koninklijke Philips Electronics N.V. is a Dutch electronics company organized into sectors including consumer lifestyle, lighting, and healthcare. Philips plans to cut 4500 jobs globally as part of an 800-million euro cost-cutting scheme by 2014, with 60% from job cuts and 40% from other structural costs. This includes potentially cutting 1400 jobs in the Netherlands and 200 jobs in India out of a total of 9000. The reasons for the cuts include a 1.6 billion euro loss last quarter from lack of innovation, joining a TV joint venture that requires showing profits, the euro crisis, and a 2 billion euro share buyback. The document recommends improving R&D and innovation over job cuts,

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    15 views6 pages

    Submitted To:-Prof. Ridhi Agarwal Submitted By: - Akriti Hamirwasia Amit Jalan Khushboo Gulgulia Parinita Agarwal Shirish Jhajharia Vishal Joshi

    Uploaded by

    akriti90
    Koninklijke Philips Electronics N.V. is a Dutch electronics company organized into sectors including consumer lifestyle, lighting, and healthcare. Philips plans to cut 4500 jobs globally as part of an 800-million euro cost-cutting scheme by 2014, with 60% from job cuts and 40% from other structural costs. This includes potentially cutting 1400 jobs in the Netherlands and 200 jobs in India out of a total of 9000. The reasons for the cuts include a 1.6 billion euro loss last quarter from lack of innovation, joining a TV joint venture that requires showing profits, the euro crisis, and a 2 billion euro share buyback. The document recommends improving R&D and innovation over job cuts,

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 6

    Submitted To:Prof.

    Ridhi Agarwal

    Submitted By:Akriti Hamirwasia Amit Jalan Khushboo Gulgulia Parinita Agarwal Shirish Jhajharia Vishal Joshi

    BACKGROUND :

    Koninklijke Philips Electronics N.V. (Royal Philips


    Electronics) is a multinational Dutch electronics company

    Organized in a number of sectors: Philips Consumer Lifestyle, Philips Lighting and Philips Healthcare

    World's biggest light maker

    Third largest hospital equipment manufacturer


    Europe's biggest consumer electronics producer

    CURRENT SCENARIO :

    Planning to fire 4500 employees across the world


    Part of an 800-million cost-cutting scheme by 2014 60% of the savings coming from job cuts and rest 40%

    from other structural costs

    Out of 4500, 1400 employees could be from the Netherlands

    Impact on India: Job cuts of around 200 employees out of 9000 (approx)

    REASONS :

    Wanted to get in Joint Venture with TPV Technology Ltd. for its

    TV business

    Joint Venture: Philips- 30%, TPV- 70% To undergo Joint Venture, has to show profits Loss of 1.6 bn ( in previous quarter) Lack of innovation and R&D

    Euro crisis
    Buy back shares worth 2.0 bn

    OUR PERSPECTIVE :

    Improve R&D and innovation


    Instead of job cuttings, reduce salary (eg. Infosys 2008-2009) Freeze Salaries Tighten Bonus Structure

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