Philips reorganises to boost profits

Philips is to simplify its organisation and reduce operations to three core divisions, the electronics giant said on Monday. It expects the reorganisation to cut costs by €150m to €200m a year and to lead to a doubling of operating profit (ebita) per share by 2010.

Once the reorganisation has been completed and various units have been merged, Philips will have three key divisions: healthcare, lighting and consumer lifestyle.
It is not yet clear what the effect of the revamp will be on jobs.

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