Philips to Lay Off 1,500 Workers

The scan: The Week v4 no24.pdf (PDF, Marxists Internet Archive, opens at this page)

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Philips Electronic and Associated Industries last week announced’ its plans to cut its 30,000 strong labour force throughout the United Kingdom by 5% early in the New Year. The redundant 1,500 will involve "staff at all levels". Mr. Engels, the group's chairman, explained, "Our aim must be to do more with less. Rising costs_and constant pressure on margins make these steps necessary «eee. we believe that this is the proper way for a company to shoulder its responsibilities," The Ministry of Labour and the Department of Economic Affairs are likely to take a close interest in the Philips scheme, following Hoover's successful reduction of labour needs by 900. "A further success will help encourage other big enterprises to reassess their labour requirments and work out plens for getting more workers ou the move", commented the 'Financial Times!,