Philips Hue reorganizes, plans job cuts to save $218 million annually

The smart lighting brand’s parent company, Signify, says it will remain focused on customer-centric products.

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Signify, the company that owns smart lighting brands Philips Hue and WiZ, is restructuring in the face “of ongoing market volatility and uncertainty.”

In a press release on its website published earlier this month, Signify announced a “new customer-centric organization and structural cost reductions.”

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