Skip to content

Philips cuts 6,000 jobs

View comments

January 27, 2009 |

More troubles in the technology sector as Philips has announced plans to reduce headcount by 6,000 by the end of 2009, according to MCV.

Philips reduced its exposure to speculative ventures in October last year when it spun five business out of its incubator venturing program into a fund managed by Prime Technology Ventures. One of the companies involved in the transaction was amBX, the ambient technology business, which is now independently funded by PTV.

Added to the GameOverZone for information, but doesn’t appear to have a direct impact on the games industry (please comment if you think I’m wrong)

 

Impact on the games sectors seems limited as the company has already exited amBX, the ambient technology business, into the arms of Prime Technology

Related posts

Categorised in: Game Over Zone

Tagged in: , , , ,

  • http://www.iloveambx.com ILoveamBX

    Good thing that amBX managed to spin out of Philips or it could have been one of the areas effected by these job cuts. Shame for Philips though and all the employees.

    [Reply]

  • http://www.nicholaslovell.com Nicholas

    I agree. Philips was smart to be able to get those 5 speculative businesses out of its portfolio last year, and it is sharing the risk with a private equity fund. Very sensible.

    [Reply]

Games Brief - name

Games Brief - description

nicholas@gamesbrief.com - admin_email

http://www.gamesbrief.com - url

http://www.gamesbrief.com - wpurl

http://www.gamesbrief.com/wp-content/themes/kitsonian - stylesheet_directory

http://www.gamesbrief.com/wp-content/themes/kitsonian/style.css - stylesheet_url

http://www.gamesbrief.com/wp-content/themes/kitsonian - template_directory

http://www.gamesbrief.com/wp-content/themes/kitsonian - template_url

http://www.gamesbrief.com/feed/atom/ - atom_url

http://www.gamesbrief.com/feed/ - rss2_url

http://www.gamesbrief.com/feed/rss/ - rss_url

http://www.gamesbrief.com/xmlrpc.php - pingback_url

http://www.gamesbrief.com/feed/rdf/ - rdf_url

http://www.gamesbrief.com/comments/feed/atom/ - comments_atom_url

http://gamesbrief.disqus.com/latest.rss - comments_rss2_url

UTF-8 - charset

text/html - html_type

en-US - language

ltr - text_direction

3.3.1 - version