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. Gray Frame Corner

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

[{"selector":"#anim-68c429a7-d620-4799-83c4-53d97645e143 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, -22.18157911867557%) scale(1.4672897196261683)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] In a press release on its website published earlier this month, Signify announced a “new customer-centric organization and structural cost reductions.” White Frame Corner