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Lamp manufacturer Signify expects long-lasting corona consequences, 700 jobs away

700 jobs will be lost at lamp manufacturer Signify. About 250 jobs are lost in the Netherlands, 10 percent of the total. Signify, the former lighting division of Philips, foresees that the corona crisis will have long-lasting consequences and wants to anticipate this with this measure.

The company does not expect to be back on sales before the corona outbreak until 2023. It is expected that companies will invest less in lighting for offices, hotels and retail properties in the coming years.

When the corona crisis erupted last year, a large part of the staff worked 20 percent less until June and were also paid 20 percent less for it. Later, the results for 2020 turned out to be less disappointing than expected and the staff received the submitted salary.

Dividend

Signify then also decided to pay out dividends for 2019 and 2020. In that light, the news about the layoffs is bitter, says Jörg Sauer of the trade union movement VHP2 to the Eindhovens Dagblad: “In particular, paying out dividends to satisfy shareholders while many people have to get out, is resentful.”

The jobs are mainly disappearing at the head office in Eindhoven and Amsterdam. These are places in the legal affairs, human resources and communication departments. Worldwide, 37,000 people work at Signify. A factory in the US state of Mississippi will be closed as part of the reorganization.

On Friday, Signify will present the annual figures for 2020.

Signify developed a UV lamp that can disinfect surfaces:

Lamp manufacturer Signify expects long-lasting corona consequences, 700 jobs away
Source link Lamp manufacturer Signify expects long-lasting corona consequences, 700 jobs away

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