After Byju’s & Elon Musk’s announcement, Philips decides to lay off 4,000 employees

The Q3 sales were affected by operational and supply challenges, Philips said in a statement.

Philips Headquarters

Just a few days after Byju’s and Elon Musk announced to lay off employees, global technology firm Philips on Monday announced it will cut 4,000 jobs to "improve productivity and increase agility".

The Q3 sales were affected by operational and supply challenges, Philips said in a statement.