Signify to cut jobs in revamp to save 200 mln euros annually ...Middle East

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Signify to cut jobs in revamp to save 200 mln euros annually
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Signify logo is pictured at the headquarters in Eindhoven, Netherlands August 30, 2018. REUTERS/Piroschka van de Wouw/File Photo Acquire Licensing Rights Dec 1 (Reuters) – Signify (LIGHT.AS) is to cut jobs as part of a restructuring that is targeting annual savings of 200 million euros ($218 million), sending shares in the world’s biggest light maker up as much as 6.6%. Signify, spun off from Dutch technology group Philips in 2016, has already been cutting costs, including through layoffs, in response to a sluggish recovery in key market China and lower sales volumes. “We will further adjust the size of our central organisation and reduce our costs to support the company’s performa

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