Philips to cut 2,200 jobs to save funds September 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 |  Latest news Czech-Armenian military cooperation discussed in Yerevan  A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia.U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel.Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |
