Dutch medical device manufacturer Philips to cut 4,000 jobs because of losses incurred due to a massive penalty for faulty sleep respirators
Philips has been bedevilled by the faulty devices that puts users with sleep apnea at risk of inhaling toxic foam.
Philips has been bedevilled by the faulty devices that puts users with sleep apnea at risk of inhaling toxic foam. New chief executive Roy Jakobs said his "immediate priority is... to improve execution so that we can start rebuilding the trust of patients, consumers and customers, as well as shareholders and our other stakeholders".
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