Word: philipses
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Inside an empty former electronics factory in the Dutch town of Eindhoven, hundreds of Philips employees sit around endless rows of tables. Split into small groups, staffers of the Amsterdam-based firm--maker of everything from lightbulbs and toothbrushes to TVs and X-ray machines--get to work. "We're...
And he means everyone. On that same day in mid-November, Europe's biggest consumer-electronics company invited all of its 125,000 workers worldwide to stop work and instead think about simplifying it. (The brightest ideas would be shared company-wide.) Dubbed "Simplicity Day," it was also part of...
Many are about to find out. On Jan. 1, Philips unleashed its latest simplification: a leaner company structure that cuts its divisions from five to three. The sleek new shape, Philips hopes, will help boost its profit margin, before tax, interest and other charges, from last year's 7.7% to...
Agile was not an adjective normally associated with Philips. Sprawling, complex or plodding seemed an apt description. "They'd sell something I didn't even know they had," says Scott Geels, analyst at Sanford C. Bernstein in London. "And I wasn't the only one." Kleisterlee took a carving knife...
And while it rewired its electronics business, Philips expanded in health care and lighting. The gradual switch to greener lighting and the rising sums being spent on health care for aging populations offered Philips the prospect of steadier growth. Flush with cash from selling unwanted units, Philips has splashed more...