No plan for job-cuts, but shifting resources: Philips

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New Delhi, Nov 21: On Friday, Nov 21 Netherland-based Philips Electronics said it has no plan for across the board job-cuts but was shifting resources to developing countries from developed countries. ''We have no plans for across the board job-cuts but are shifting resources to developing countries from developed countries,'' company President and CEO Gerard Kleisterlee said while talking to reporters in the capital.

However, he did acknowledge the fact that the global turmoil has taken a toll on the company also. ''We too are very tight at this moment like any other company ... I cannot exclude that,'' he said. On Friday, Nov 21 the company also announced that the acquisition of Meditronics, a leading manufacturer of General X-ray systems, will further strengthen its portfolio in the healthcare segment.

UNI

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