© Reuters. FILE PHOTO: Logo of Dutch technology company Philips is seen at its company headquarters in Amsterdam, Netherlands, January 29, 2019. REUTERS/Eva Plevier
AMSTERDAM (Reuters) – Dutch medical equipment maker Philips said on Monday it expected to scrap around 4,000 jobs as it tried to streamline its organization in the wake of a massive recall that has slashed around 70% off its market value in the past year.
The company said it expected the reorganization to cost around 300 million euros ($295.41 million) in the coming quarters.
($1 = 1.0155 euros)
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