Dutch consumer electronics giant Philips Electronics NV reported Monday a loss in its fourth quarter, compared to prior year's profit, even as sales increased. The company further declared a dividend, and said its order book remains strong. Going ahead, the company projects comparable sales growth in fiscal 2023, 2025, and beyond.
Separately, Philips announced its plans to reduce workforce by an additional 6,000 roles globally by 2025. Of this, 3,000 will be implemented in 2023 in line with the relevant local regulations and processes.
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