Layoffs, healthcare, Economy

1,600 Layoffs at Philips Healthcare Unit

Wade Roush 11/21/08

The healthcare unit of Royal Philips NV, headquartered in Andover MA, will cut 1,600 positions worldwide as part of a restructuring effort that is only partly related to the economic downturn, according to reports today in the Eagle-Tribune, a local newspaper in Andover, and the Boston Globe. About 100 people at the Andover facility will be among those let go. The move comes only a few months after Philips announced it would move the healthcare division’s headquarters to Andover from New York.