Skip to content
Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(CNBC)   Philips screws 6,000 workers   (cnbc.com) divider line
21
    More: Obvious, Chief executive officer, CNBC, Squawk Box, Executive officer, Organization, Sleep apnea, Technology, Asia Squawk Box  
•       •       •

763 clicks; posted to Business » on 30 Jan 2023 at 11:40 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



21 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
Squid_for_Brains [TotalFark]
2023-01-30 10:31:33 AM  
"No one wants to work anymore!"

Lays off thousands of workers

"No one wants to work anymore!"
 
Scorpitron is reduced to a thin red paste
2023-01-30 10:55:41 AM  
All the cool execs are doing it.
 
wingedkat [TotalFark]
2023-01-30 11:17:04 AM  
Ugh. This is a massive mistake for Phillips.

Massive job cuts like this aren't "lean".  They're stupid.  "Lean" is looking for ways to improve processes to save time and cash.  I don't care how big your process is, there's no way you found a process improvement that got rid of 6000 people.  Cutting this many people only cuts valuable experience.

They're going to cut the people they need to keep the supply chain moving and maintain the customer service standards they claim they are improving.  Then when the people who remain burn out and bail, they'll discover they can't function without all that experience.

Has the worker shortage taught companies nothing?  Or the recession in 2009?  Companies never recovered from all the "lean reorganizing" that gave us that mess, as shown when world supply hit a covid bump and  suddenly the "lean" workforce couldn't handle the problems.
 
Aar1012 [TotalFark]
2023-01-30 11:17:45 AM  
In drive to improve profitability

Jesus Christ, they couldn't even make up a reason?
 
brap [TotalFark]
2023-01-30 11:44:25 AM  
I would have gone with "How many people does it take to get screwed by a light bulb manufacturer?"
 
holdmybones
2023-01-30 11:47:59 AM  
"We have been working very hard to refocus on health technology, and we have now built a very strong portfolio there where we have 70% of number one or two positions," he also told CNBC.
"But we have not been extracting the value out of those segments because we did not execute well. So....


A bunch of people who had nothing to do with the terrible execution have to lose their jobs.
 
tobcc
2023-01-30 11:50:18 AM  
I had a CPAP that was part of the recall, they handled it in the most terrible way possible.  Pretty much was told "dont use your CPAP it can kill you", because they used cheap plastic that off gasses so much it becomes toxic.   Then it took like 2 years to get the replacement with random emails requiring the same information, and if you didnt provide it, you had to start the process over again.

My point, Phillips made its bed now sleep in it.
 
firsttiger
2023-01-30 11:54:17 AM  
Fallout from the CPAP debacle. I think they kinda shot themselves in the foot with this whole thing. I am now suddenly realizing why resmed has been offering machines for so cheap...might as well grab those customers.
 
MikeyFuccon
2023-01-30 11:55:08 AM  
And here I thought Philips sold TV's and radios.

They still do, but on their front web page their non-health products are barely mentioned.
 
Scorpitron is reduced to a thin red paste
2023-01-30 12:17:10 PM  

wingedkat: Ugh. This is a massive mistake for Phillips.

Massive job cuts like this aren't "lean".  They're stupid.  "Lean" is looking for ways to improve processes to save time and cash.  I don't care how big your process is, there's no way you found a process improvement that got rid of 6000 people.  Cutting this many people only cuts valuable experience.

They're going to cut the people they need to keep the supply chain moving and maintain the customer service standards they claim they are improving.  Then when the people who remain burn out and bail, they'll discover they can't function without all that experience.

Has the worker shortage taught companies nothing?  Or the recession in 2009?  Companies never recovered from all the "lean reorganizing" that gave us that mess, as shown when world supply hit a covid bump and  suddenly the "lean" workforce couldn't handle the problems.


We need to recognize that the incentives for corporate leadership are no longer in the long-term, or the sustainable, or anything smart like you mentioned. We need to take a really hard look at how corps are getting turned into virtual cash machines for executive pay packages and shareholder value.
 
AppleOptionEsc
2023-01-30 12:24:29 PM  

wingedkat: Ugh. This is a massive mistake for Phillips.

Massive job cuts like this aren't "lean".  They're stupid.  "Lean" is looking for ways to improve processes to save time and cash.  I don't care how big your process is, there's no way you found a process improvement that got rid of 6000 people.  Cutting this many people only cuts valuable experience.

They're going to cut the people they need to keep the supply chain moving and maintain the customer service standards they claim they are improving.  Then when the people who remain burn out and bail, they'll discover they can't function without all that experience.

Has the worker shortage taught companies nothing?  Or the recession in 2009?  Companies never recovered from all the "lean reorganizing" that gave us that mess, as shown when world supply hit a covid bump and  suddenly the "lean" workforce couldn't handle the problems.


I have stories.

Not from Phillips, but just in general.


Anything that means you can work tomorrow.

QA? fark em.
Safety? fark em.
Interns? fark em.
Trainers? fark em.
Etc etc? fark em.

If you can fire these people, and in 7 days, make your contracts, then anyone let go was fat.

Sure, in 2 months, everyone will notice your products are garbage, but that's what collusion is meant to cover for. You meet with your competitors, and agree that you and him making bank is better than a bidding war for talent.

Made in America is a myth. It's all garbage.
 
harleyquinnical
2023-01-30 12:34:14 PM  

Aar1012: In drive to improve profitability

Jesus Christ, they couldn't even make up a reason?


Nope, because they can't come out and say they want to increase profit margins and bonuses for executives.  Otherwise, workers might become disgruntled.  it's not like any of the laid off workers will turn out to be Korben Dallas.

The Fifth Element - Free Lunch
Youtube UjLO_CrZRmM
 
CCNP
2023-01-30 12:34:46 PM  

wingedkat: Has the worker shortage taught companies nothing?


The worker shortage has taught CEO's that importing more low wage workers from other countries is the most profitable solution. https://www.cnbc.com/2021/10/15/dominos-ceo-us-needs-more-immigration-to-address-worker-shortages.html

If you oppose this strategy, then it means you are racist.

quod.lib.umich.eduView Full Size
 
harleyquinnical
2023-01-30 12:41:40 PM  

MikeyFuccon: And here I thought Philips sold TV's and radios.

They still do, but on their front web page their non-health products are barely mentioned.


So many years later and I'm still bitter about them buying Magnavox.
 
wingedkat [TotalFark]
2023-01-30 12:47:43 PM  

holdmybones: "We have been working very hard to refocus on health technology, and we have now built a very strong portfolio there where we have 70% of number one or two positions," he also told CNBC.
"But we have not been extracting the value out of those segments because we did not execute well. So....


A bunch of people who had nothing to do with the terrible execution have to lose their jobs.


Right.  If they were leaving the health care sector or removing their c-paps from the market, the cuts would make sense, but it doesn't sound like they plan on that.  Health technology is the money maker; people (and insurance companies) will pay exorbitant, unrealistic prices if it's tied to healthcare. Phillips won't be getting out of that any time soon.

If the problem were just the mistakes made with the cpap, there are a few specific people who clearly did not follow regulatory procedure for materials testing when developing the parts who should lose their jobs.  But that is not 6000 people.

Cutting 6000 people from their health technology departments would be idiotic with all the regulatory and QA expertise required by the FDA and EU's Annex 1.  They'd need to buy an entire company full of experienced employees to replace the people they fired.  Maybe that's the plan.
 
runwiz [TotalFark] [OhFark]
2023-01-30 12:54:06 PM  
If you can't increase revenue then you have to cut costs.  And the easiest cost to cut is the one you directly control, the cost of labor.  Adios, loyal employees.  It was good to know you but the stockholders and CEOs must come first.
 
TedCruz'sCrazyDad
2023-01-30 1:00:27 PM  

wingedkat: holdmybones: "We have been working very hard to refocus on health technology, and we have now built a very strong portfolio there where we have 70% of number one or two positions," he also told CNBC.
"But we have not been extracting the value out of those segments because we did not execute well. So....


A bunch of people who had nothing to do with the terrible execution have to lose their jobs.

Right.  If they were leaving the health care sector or removing their c-paps from the market, the cuts would make sense, but it doesn't sound like they plan on that.  Health technology is the money maker; people (and insurance companies) will pay exorbitant, unrealistic prices if it's tied to healthcare. Phillips won't be getting out of that any time soon.

If the problem were just the mistakes made with the cpap, there are a few specific people who clearly did not follow regulatory procedure for materials testing when developing the parts who should lose their jobs.  But that is not 6000 people.

Cutting 6000 people from their health technology departments would be idiotic with all the regulatory and QA expertise required by the FDA and EU's Annex 1.  They'd need to buy an entire company full of experienced employees to replace the people they fired.  Maybe that's the plan.


The should learn to code.
 
misanthropicsob [OhFark]
2023-01-30 1:47:32 PM  
Joe Biden's economy is still running strong.
 
Intrepid00 [TotalFark]
2023-01-30 2:18:24 PM  

Squid_for_Brains: "No one wants to work anymore!"

Lays off thousands of workers

"No one wants to work anymore!"


Quick, we need to make more money. Fire the workers and pile more on those left for the same pay.
 
sensitive yet dangerous
2023-01-31 8:03:46 AM  
Have they tried making good products? I haven't seen a compelling Philips product that wasn't a light bulb for a couple decades.  It's all the same cheap plastic made-in-China crap that everyone else sells, but they try to upsell on the strength of their brand as if they're still a reputable company. You're not fooling anyone, Philips.
 
Intrepid00 [TotalFark]
2023-01-31 11:58:19 AM  

sensitive yet dangerous: Have they tried making good products? I haven't seen a compelling Philips product that wasn't a light bulb for a couple decades.  It's all the same cheap plastic made-in-China crap that everyone else sells, but they try to upsell on the strength of their brand as if they're still a reputable company. You're not fooling anyone, Philips.


They don't even own the lightbulbs anymore so they?
 
Displayed 21 of 21 comments

View Voting Results: Smartest and Funniest

Redisplay/refresh comments
This thread is closed to new comments.

Continue Farking

If you like these links, you'll love

TotalFark

All the submissions, none of the calories.

learn more | sign up
On Twitter

  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.