Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Philips, a Dutch manufacturer of medical equipment, having several locations in the Netherlands, announced it will cut 1100 jobs, almost entirely at the head office in Amsterdam and the research and development department in Eindhoven. The reorganization is necessary due to persistent problems with the company’s apnea devices (which can cause health problems) and the shortage of computer chips and other components they are facing, as a result of which they could not deliver all ordered devices. The job losses, reported to be cut by direct dismissals, were announced on the 30th of January 2023, and are to be implemented by the end of 2023.
Trade unions reacted with incomprehension to the job losses. Trade union De Unie, has stated that there seems to be 'a bare cutback', without a sound plan, which is problematic as employee confidence in the management of the company was already faltering.
Previous restructuring events have been recorded for Philips in the ERM database. In 2022, a global restructuring plan included 4000 job cuts (Philips-2022-WO), 400-800 job cuts are planned for the Netherlands as part of the global restructuring (Philips-2022-NL), and in a seperate restructuring plan 106 jobs were offshored to Poland, Panama and India (Philips-2022a-NL).
Eurofound (2023), Philips, Internal restructuring in Netherlands, factsheet number 108319, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108319.
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