Philips to cut 2,200 jobs to save fundsSeptember 11, 2012 - 19:25 AMT PanARMENIAN.Net - Royal Philips Electronics, the largest maker of lights, has announced plans to cut 2,200 jobs by 2014 to save £240 million, Belfast Telegraph said. Saving money will lessen "the effects of macro-economic headwinds and changes in pension cost accounting", Philips chief executive officer Frans van Houten said in a statement. He described the job losses as "regrettable". The job cuts will fall at the company's lighting and healthcare divisions. The company said it planned a fuller explanation at a press conference later. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |