Bloomberg News

Philips Rises as Much as 3.4 Percent After Job Cuts Announcement

October 17, 2011

Oct. 17 (Bloomberg) -- Royal Philips Electronics NV rose as much as 3.4 percent in Amsterdam trading after the company reported that it plans to cut 4,500 jobs to revive earnings after quarterly profit fell to the lowest in almost two years.

Philips traded up 2.9 percent to 15.23 euros as of 9:02 a.m local time.

To contact the editor responsible for this story: Fred Pals at fpals@bloomberg.net


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