Nov 29, 2001 well as to adjust to the lower level of short-term contracts with its
parent company's lines of business, Philips Research will reduce its
organization by some 300 people world-wide. This represents about 10%
of the total workforce, including support staff, located at all
laboratories of Philips Research.
These reductions will not affect longer-term research investments,
which are being corporately funded.
During the process of reorganization, to be completed in the course of
2003, Philips Research will increase its efficiency. Its specific
capabilities will be concentrated in as few locations as possible and
support cost will be reduced.
The consequences for the individual laboratories are subject to local
conditions and cannot be communicated at this point in time. The staff
at the different locations will be informed by local management.
Media Inquiries:
Ellen de Vries, Philips Research Public Relations, Tel. +31 40 27 42
321
Hans Scholten, Philips Corporate Communications, Tel. +31 20 59 77 425
About Philips Research
Philips Research is part of Royal Philips Electronics. Besides the
main laboratory in Eindhoven, The Netherlands, there are Research
laboratories in France, Germany, the United Kingdom, Italy, Belgium,
Taiwan, China, India, and the United States of America (collectively
some 3,000 people). Philips Research concentrates on investigating
promising options for innovations, which are turned into new or
improved products of the Philips product divisions. About 0.9% of
sales of Philips is spent on these corporate research activities,
while total R&D efforts amount to approximately 7,3% of sales. More
information on Philips Research on: http://www.research.philips.com
About Philips
Royal Philips Electronics of the Netherlands is one of the world's
biggest electronics companies and Europe's largest, with sales of EUR
37.9 billion in 2000. It is a global leader in color television sets,
lighting, electric shavers, color picture tubes for televisions and
monitors, and one-chip TV products. Its 192,000 employees in more than
60 countries are active in the areas of lighting, consumer
electronics, domestic appliances, components, semiconductors, and
medical systems. Philips is quoted on the NYSE (symbol: PHG), London,
Frankfurt, Amsterdam and other stock exchanges. News from Philips is
located at http://www.news.philips.com.
