Philips is the wolrd's leading manufacturer of lighting.
But lately, this huge company will cut 4500 jobs.
It made an anouncement as it reported a sharp fall in the profits as a result of lower margins, falling sales and a loss at its TV division. ( its group-wide net profit for the three months to 30 september was 74m eruos, compared with 524m eruos a year earlier.
Philips employs 116,000 people across the world, including 2,200 in the UK.
Of the 4,500 job cuts, 1,400 will go in the Netherlands. Where the remaining 3,100 jobs will be lost has yet to be announced.
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