InfoAnda - Philips ups cost cuts to 1.1 billion euros, axes more jobs |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Two and a Half Men crew will get paid for canceled episodes | 1 March 2011
Swede held in Pakistan on terror links | 12 September 2009
Smoke-spewing Trabant poised for rebirth as electric car | 17 August 2009

World Bank warns unemployment threatens US economy | 12 November 2009

Forum Views () Forum Replies ()

Read more with google mobile : Philips ups cost cuts to 1.1 billion euros, axes more jobs |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Anatole Kaletsky Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Mark Leonard Reihan Salam Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Morgan Freeman is alive, no matter what Facebook says 10 Sep 2012 China's Xi not seen in public because of ailment: sources 3:26am EDT Insight: GM's Volt: The ugly math of low sales, high costs 10 Sep 2012 Japan buys disputed islands, China sends in patrol boats 3:10am EDT Southern whites troubled by Romney's wealth, religion 1:24am EDT Discussed 198 Obama widens lead over Romney despite jobs data: Reuters/Ipsos poll 153 Insight: GM’s Volt – The ugly math of low sales, high costs 129 Movies suffer worst box-office slump in a decade Sponsored Links Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption WTC rises again The new World Trade Center surpasses the Empire State Building as the tallest building in New York. Slideshow Striking miners Demonstrations continue as wage talks to end the month-long Lonmin strike fail to start as scheduled. Slideshow Philips ups cost cuts to 1.1 billion euros, axes more jobs Tweet Share this Email Print Related Topics Tech » Teamsters Mark A. Owsianiak (L) and Mark Bishop put up a sign at the Philips Electonics booth before the Consumer Electronics Show (CES) at the Las Vegas Convention Center January 3, 2008. Credit: Reuters/Las Vegas Sun/Steve Marcus By Roberta Cowan AMSTERDAM | Tue Sep 11, 2012 2:49am EDT AMSTERDAM (Reuters) - Philips Electronics raised its cost-cutting target to 1.1 billion euros ($1.4 billion) and said it would axe a further 2,200 jobs as it battles a tough economic backdrop and pension costs. The group, which had previously targeted 800 million euros of cost savings, announced the plan on Tuesday ahead of an investor event in London. Last year it announced 4,500 job cuts. "The identified additional overhead cost reduction measures will help us mitigate the effects of macro-economic headwinds and changes in pension-cost accounting, while making us a more agile innovation company serving our customers effectively across the world," said Chief Executive Frans van Houten. Europe's largest consumer electronics producer, the world's biggest lighting maker and a top-three maker of hospital equipment reported bumper second-quarter earnings in July, giving investors hope that a drastic overhaul of the business, Van Houten started just over a year ago, is starting to pay off. In his first year at the top, Van Houten started overhauling the company where he worked most of his life, including trying to change the corporate culture which he says isn't entrepreneurial enough. In his first year s CEO, he issued two profit warnings, reset financial targets, cut thousands of jobs, replaced his entire top executive team and, eventually, hived off the loss-making TV business. After two quarters of better-than-expected results, Van Houten told Reuters in July that the firm is now in "sustainable recovery mode," although he wouldn't rule out taking further measures to cut costs. As expected, Philips didn't give a detailed outlook for the remainder of the year on Tuesday, but reiterated it is set to meet its previous guidance for sales growth of between 4 and 6 percent in 2013, an EBITA margins of 10 to 12 percent and a return on invested capital of 12 to 14 percent. ($1 = 0.7821 euros) (Reporting by Roberta Cowan; Editing by Mark Potter and David Holmes) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Tuesday, 11 September 2012
Analysis: Canada may have cut ties with Iran to avoid retaliation |
Gaddafi-era officials go on trial accused over Lockerbie case |
Mexican police find 16 bodies dumped in vehicle |
Somalia elects new president in rare vote |
Raiders kill 38 in latest land clashes in Kenya |
Brother of French al-Qaeda-inspired killer questioned |
Alcoa Italy workers clash with police over jobs |
Zynga loses another executive in top-level exodus |
Hackers stole Apple data from Florida company, not from FBI |
Nasdaq unwavering on paybacks for faulty Facebook launch |
Web host Go Daddy hit by technical problem, sites down |
Gossip Girl Blake Lively and Ryan Reynolds tie the knot |
Will Britney Spears rescue Cowell's X Factor? |
Buzz for Twilight finale, Oscar hopes for Les Miserables |
Al Pacino eyes role of coach Joe Paterno in movie bio |
China's Xi not seen in public because of ailment: sources |
Turkey says will not hand over fugitive Iraqi vice president |
Japan buys disputed islands, China sends in patrol boats |
Rockets hit NATO airbase north of Kabul, killing three Afghan staff |
Blast outside Istanbul police station, some wounded: Turkish TV |
Ukraine ex-PM's tax evasion trial adjourned until October 15 |
Palestinian leaders seek economic solutions after protests |
Occupy Hong Kong activists removed from HSBC's Asia headquarters |
Al Qaeda confirms death of bin Laden confidant Libi |
New iPhone could boost U.S. GDP by up to 0.5 percent, JP Morgan says |
YouTube rolls out new version of iPhone app |
Sharp to cut salaries in a fresh bid to squeeze costs |
Philips ups cost cuts to 1.1 billion euros, axes more jobs |
Advanced Micro launches low-power server platform |
China's Huawei set to announce $1.9 billion UK investment: Sky News |
Avengers director Whedon swaps superheroes for Shakespeare |
Ex-defense secretary Rumsfeld gets documentary treatment |
Assad's forces shell Damascus rebel stronghold, 4 killed |
Egyptians angry at film scale U.S. embassy walls |
U.S. has no right to block Israel on Iran: Netanyahu |
ANC rebel calls for national mine strike in South Africa |
Tainted moonshine kills 8 in the Czech Republic |
Somali militants brand new president a traitor |
Yemen defense minister escapes car bombing, 12 die |
French ex-PM Villepin questioned in scam probe |
Apple turns legal guns on Polish retailer A.pl |
Twitter must produce Occupy protester's tweets or face contempt |
Nokia Siemens in talks to sell business support unit: CEO |
Titanic effects creator Digital Domain bankrupt, sale agreed |
New iPhone could boost U.S. GDP by up to 0.5 percent, JP Morgan says |
Titanic effects creator Digital Domain bankrupt, sale agreed |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01