NEWS Desk Global
SIGNIFY WILL CUT JOBS IN REVAMP TO SAVE 200 MLN EUROS ANNUALLY
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.
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