Philips to close UK factory and transfer operations to the Netherlands
Philips is to close its Glemsford factory and transfer its operations to the Netherlands, putting 430 jobs at risk.
The company is proposing to close the site, which makes baby bottles, in 2020 and to transfer the majority of its operations to a manufacturing factory in Drachten, in the Netherlands.
The decision comes just months after the company's chief executive Frans van Houten expressed his concerns about Britain maintaining frictionless trade following Brexit.
Philips also said the move is part of plans to reduce its industrial footprint from 50 sites to 30.
"I recognise that our proposed plan will have a profound impact on our colleagues working at the Glemsford site, and our manufacturing presence in the UK," Neil Mesher, chief executive of Philips UK & Ireland said.
"We have announced the proposal after careful consideration, and over the next period, we will work closely with the impacted colleagues on next steps.
"Philips has a long, established history of serving customers within the UK, and we remain committed to them. The UK is an important market for us, and we will continue to invest in our commercial organisation and innovation programmes in the country."