And Philips Electronics NV is slashing its workforce at its German subsidiary, Philips Kommunikations Industrie AG by early next year, saying that it will declare 1,250, 23%, of the 5,500-strong workforce redundant, and transfer another 300 to other Philips businesses in Germany. The company is described as top-heavy, and in need of downsizing to bring it in line with its markets – there has been a sharp reduction of orders at Deutsche Bundespost Telekom. About 12,000 jobs are expected to go all told at Philips this year, with 8,000 people already departed.
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