Cuts expected at Philips

13th July 2011, Comments 0 comments

Dutch electronics giant Philips is expected to implement further cost-cutting measures. A report by the  on Monday suggested that the measures are a response to declining demand from Western Europe.

Philips already upset the market in June, having reported its second profit alert in three months. Company CEO Frans van Houten is expected to announce the cuts with the publication of its second quarter results.

© Radio Netherlands Worldwide

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