Philips to cut 4,000 jobs on losses from faulty respiratorsAFP, THE HAGUEDutch medical device manufacturer Royal Philips NV yesterday said that it would cut 4,000 jobs as another massive penalty for faulty sleep respirators pushed it into loss. Philips has been bedeviled by faulty devices that put users with sleep apnea at risk of inhaling toxic foam. The logo of Royal Philips NV hangs on the company’s headquarters building in Amsterdam on Jan. 29, 2019. Photo: ReutersPhilips had already set aside 900 million euros over the faulty respirators and had warned two weeks ago that it would take the 1.3 billion euro charge this quarter. “This includes the difficult but necessary decision to immediately reduce our workforce by around 4,000 roles globally,” Jakobs said.
