Philips Electronics (PHG) increases its cost-savings goal to €1.1B from €800M as it looks to...

|By:, SA News Editor

Philips Electronics (PHG) increases its cost-savings goal to €1.1B from €800M as it looks to address inefficiency at its healthcare and lighting divisions. The conglomerate will also slash another 2,200 jobs on top of the 4,500 cuts it announced last year. Philips disclosed the action ahead of an investor day today. (PR)