Philips Healthcare is cutting jobs in Andover
Nearly 150 jobs are being cut at Philips Healthcare operations in Andover as part of the company’s worldwide effort to improve its competitiveness, reduce duplications, and focus on innovation, a company spokeswoman said Thursday.
At the end of 2011, the number of Philips Healthcare employees in Massachusetts was 3,000.
Headquartered in the Netherlands, Royal Philips Electronics focuses on such businesses as health care, consumer lifestyle products, and lighting.
In September, the company disclosed plans to cut 2,200 jobs worldwide, or less than 2 percent of the company’s workforce. At the end of 2011, Philips had 121,000 employees.
The company’s initiative is a multi-year plan to realize $1.1 billion euros in savings. At Thursday’s conversion rate, that amount equals $1.42 billion US dollars.Chris Reidy can be reached at firstname.lastname@example.org.