AllThingsD » Royal Philips Electronics http://allthingsd.com Sun, 12 Feb 2012 02:05:24 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://allthingsd.com/theme/images/logo-rss.jpg All Things Digital http://allthingsd.com/ 144 22 Philips to Release 6000 Employees Into Wild http://allthingsd.com/20090126/philips-to-release-6000-employees-into-wild/ http://allthingsd.com/20090126/philips-to-release-6000-employees-into-wild/#comments Mon, 26 Jan 2009 13:20:58 +0000 John Paczkowski http://digitaldaily.allthingsd.com/?p=11859 The consumer electronics dominoes continue to fall. First Sony (SNE), then Samsung and now Royal Philips Electronics (PHG). Echoing the suffering of its rivals, Europe’s largest consumer electronics firm reported a 1.47 billion euro ($1.9 billion) shortfall today–its first quarterly loss in almost six years–and announced plans to cut 6,000 jobs in 2009. “Our fourth-quarter results confirm the expectation we expressed in early December that the short term economic outlook is worsening and that 2009 is likely to be a very challenging year,” the company said in a statement.

A dismal prediction, but one that’s to be expected. Clearly, the unprecedented and ferocious decline in the economy doesn’t exactly encourage sales of flat-screen televisions–unless they’re consumer sales to pawn shops. “What is quite amazing is not so much the depth of slowdown, it’s the lack of visibility there is,” said Philips Electronics CFO Pierre-Jean Sivignon. “The world is tougher out there.”

[Image credit: Sad Guys on Trading Floors]

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