Philips to cut 4,000 jobs as another massive penalty for faulty sleep respirators pushed it into loss

Dutch medical device manufacturer Philips said Monday it will cut 4,000 jobs as another massive penalty for faulty sleep respirators pushed it into loss.

The 1.3-billion-euro ($1.28 billion) charge for the defective machines pushed the firm into a net loss of the same amount, the company said in a statement, reports BSS.

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