Philips to cut 1,600 jobs worldwide

Philips has announced that it is to cut 1,600 jobs in its semiconductor unit in an effort to make it profitable.

The group is to concentrate on its core consumer applications and cut back on business that is not making money.

The cutbacks are to take place across Europe and the US.

In Ireland, Philips has been established in Clonskeagh, Dublin since 1955.

Its activities are mainly concentrated on sales and marketing.

One of its Irish subsidiaries is Silicon and Software Systems (S3), which specialises in silicon design.