Royal Philips Electronics NV (PHIA) said it will deepen cuts at a lighting factory in Belgium and eliminate an an additional 218 jobs in response to falling demand for conventional lamps and the rise of light-emitting diodes.
In the wake of losing patent protection on top-selling Actonel, Warner Chilcott is restructuring its European operations and plans to cut 500 jobs in the process. Actonel accounted for 70 percent of Warner’s sales in Western Europe last year, and the drug now faces generic competition in several European countries. The company is aiming to cut costs in the region and refocus its efforts.
Belgian-French financial services group Dexia said on Wednesday it would cut 665 jobs as part of a cost-savings plan, leaving it with 80 million euros of cuts to meet its target.
The job cuts are slightly less than Belgian media had been speculating.