2023 U.S.-Booked Air Volume: $28M
BTN estimates technology company Philips spent an estimated $28 million on U.S.-booked air travel in 2023, securing it a place on the Corporate Travel 100 for the first time.
Over the past decade it has shifted its focus from consumer electronics to health technology but has been hit by global product recalls and supply chain issues.
As such, in January 2023 it announced plans to cut 6,000 jobs worldwide over the next two years on top of 4,000 job losses it had detailed the previous October.
The move was revealed after Philips posted a €1.6 billion net loss in 2022 which was reduced to €463 million for FY23. Revenue in FY23 was relatively stable at €18.17 billion compared to €17.93 billion in FY22.
According to its 2023 annual report, the company had 69,700 members of staff last year.
Its scope 3.6 business travel emissions increased 5 percent in 2023 mainly due to restructuring at Philips that “required increased travel to allow an optimal transition”. At 90,776 metric tons of CO2e, those emissions accounted for 1.8 percent of the company’s total carbon footprint.
With tightened travel budgets in 2024, Philips says it aims to curb the growth of travel emissions. It also continues to electrify its fleet, promote the use videoconferencing when appropriate, and increase its efforts to move travelers to rail for shorter journeys.