The Challenge (Philips Semiconductors): Restructuring while maintaining confidence and credibility inside and outside
The underlying business issue: An underperforming business unit which had become the leading indicator of the wider company share price
The Project: Concise and clear communications to set out how the business unit was going to reverse several consecutive quarters of financial loss-making. This involved stemming a steady drip-feed of bad news such as manufacturing site closures into one package of measures that included optimizing capital assets and a re-focus on specific markets and technologies in order to drive sustained profitability in the medium and long term. The result was positive media headlines, renewed market confidence and a renewed commitment to success within the organization. |
