Medical technology company Philips has confirmed it is slashing its workforce by a further 6,000 jobs, of which 1,100 will go in the Netherlands over the next two years.

The job losses were announced at the publication of the company’s 2022 annual figures – which included a €1.5 billion loss over the year.

The new job cuts come on top of the 4,000 announced last October, including 800 in the Netherlands. Philips currently has a workforce of around 80,000, including 11,000 in the Netherlands.

Almost all the Dutch jobs will go at the Amsterdam headquarters and the company’s R&D operations in Eindhoven. Production sites in Drachten and Eindhoven will largely escape the cuts.

The job losses are ‘difficult but necessary,’ new chief executive Roy Jakobs said in a statement. ‘Given our significant operational challenges, we are not fully extracting the full value of our businesses, as also reflected in our 2022 results,’ he said.

Last year, Philips wrote off €1.3 billion to cover the cost of a recall and possible legal action because of problems with its sleep apnea equipment.

In September, a group of investors in Philips launched a claim for €16 billion for allegedly being misinformed about the extent of problems with the company’s devices. Other law suits are also pending.

Philips has recalled 5.5 million machines and 17 million sleep masks worldwide after it emerged that tiny foam particles could be released during cleaning and then inhaled, while magnetic clips in the masks potentially interfere with heart pacemakers.

According to the Parool, the company is also planning to move its headquarters from the Amstel river location in Amsterdam to smaller offices in the Zuidas business district.