Eindhovens Dagblad, based in the city where the company was founded, said Philips plans 1,000 job cuts in the Netherlands alone, citing "sources around the firm".

A spokesperson for Philips declined to comment.

The company announced in October plans to reduce its workforce by 5%, or 4,000, after a recall of respiration devices that has knocked 70% off its share price since mid-2021.

New CEO Roy Jakobs is due to lay out his strategic plan for the company along when it reports earnings on Monday.

Analysts are expecting the company to post fourth-quarter net profit of 140 million euros ($152.2 million), down from 507 million euros in the same period of 2021, Refinitiv data shows.

($1 = 0.9201 euros)

(Reporting by Toby Sterling; Editing by David Goodman)