Tag: Philips

Philips settles US sleep machine cases for $1.1 billion

THE HAGUE, April 29, 2024 (AFP) – Dutch medical device maker Philips said Monday it had reached a $1.1 billion deal in the United States to settle lawsuits over faulty sleep machines in a case that has rocked the company. Since 2021, the company has been battling a series of crises over its DreamStation machines for sleep apnoea, a disorder in which breathing stops and starts during sleep. Earlier this year, the company said it […]

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Philips cuts 6,000 more jobs after sleep device recall

THE HAGUE, Netherlands (AFP) – Embattled Dutch medical tech maker Philips said on Monday it will slash 6,000 more jobs worldwide after fresh losses caused by a massive recall of faulty sleep respirators. Chief Executive Roy Jakobs announced the “difficult, but necessary further reduction of our workforce” by 2025, which comes just three months after it announced another 4,000 cuts. “2022 has been a very difficult year for Philips and our stakeholders, and we are taking […]

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