Philips swings to first quarterly loss in five years Group sees little room for optimism, plans to cut 6,000 jobs

Royal Philips Electronics, Europe's largest consumer-electronics firm, on Monday said it swung to a fourth-quarter loss of 1.47 billion euros ($1.9 billion) as it wrote down the value of its stakes in LG Display and NXP and demand for its products continued to deteriorate.

It also unveiled plans to cut 6,000 jobs in 2009.