Philips is cutting 4,000 jobs globally in a cost-cutting effort, it said Monday, reporting a 5% comparable sales decline to about $4.2 billion for Q3 and a $1.3 billion loss. Orders dropped 6% year on year vs. a 47% uptick in the year-ago quarter, it said. Performance in Q3 was affected by “operational and supply challenges, inflationary pressures, the COVID situation in China and the Russia-Ukraine war,” the company said. In addition to job cuts, the company is addressing facets of a Respironics ventilator recall “to strengthen patient safety and quality management,” plus streamlining operations. “These initial actions are needed to start turning the company around in order to realize Philips’ profitable growth potential and create value for all our stakeholders,” said CEO Roy Jakobs. Cost savings are expected to result in annualized savings of about $296 million. The company expects a mid-single-digit sales decline in Q4 on “prolonged operational and supply challenges, a worsening macro-economic environment and continued uncertainty related to COVID-19 measures in China."

Amazon added 10 Airbus A330-300 aircraft to its cargo fleet to help meet customer demand as it continues to emerge from the COVID-19 pandemic, blogged Sarah Rhoads, vice president-Amazon Global Air, Friday. The planes, leased through Altavair and to be operated by Hawaiian Airlines, will take flight late next year, after undergoing passenger-to-cargo conversion, she said. Amazon will begin phasing out older aircraft when the A330s enter the fleet as the “newest, largest” aircraft for Amazon Air, capable of delivering more packages on each flight. The company has a global network of 110 aircraft.

Apple refreshed Apple TV 4K with a faster processor that delivers more “fluid” gameplay, the company said Tuesday. The latest streaming player adds support for HDR10+, joining Dolby Vision, the company said. Apple TV 4K is available in two Wi-Fi configurations, including one with ethernet. Apple TV 4K with Siri Remote starts at $129; the Siri remote can be purchased separately for $59 and is compatible with all generations of Apple TV 4K and Apple TV HD players, the company said. Preorders began Tuesday with availability Nov. 4. Apple also announced preorders for new iPad Pro models Tuesday, including the 11-inch iPad Pro ($799) and 12.9-inch iPad Pro ($1,099); cellular connectivity adds $200 to the price. Features include Magic Keyboard and support for Apple Pencil, which allows users to preview a mark on the tablet before actually making it by hovering up to 12 mm above the display. Stage Manager enables simpler multitasking between apps and windows, Apple said. “Desktop-class” features include undo and redo, a redesigned find-and-replace experience, customizable toolbars and the ability to change file extensions, Apple said. Availability is Oct. 26.

Chinese movie distributor Wanda Film will install six Imax systems in a nine-theater deal that also includes a relocation and upgrade of three existing Imax systems to new multiplexes, the companies said Monday. It’s Imax’s first agreement for more than five new theaters in China since February 2021, it said. Imax has 371 theaters in operation in China, with 23 “in backlog." As of June, Imax operated 1,694 theater systems in 87 countries and territories.

Voxx International director Beat Kahli acquired 16,161 company shares Friday at $6.95 per share, said an SEC filing. The $112,300 transaction brings the total number of Voxx shares Kahli owns to 666,161. Voxx shares rose 10.1% Monday, closing at $6.91. Kahli is CEO of Avalon Park Group.

FuboTV’s compensation committee granted restricted stock unit awards covering 85,715 shares of its common stock to five new employees to induce them to join the company, it said Friday. The awards will vest annually over a four-year period after their grant, subject to continued employment, the company said. Shares closed at$4.05 Monday.

Linksys announced a network and portal to offer resources and support to reseller partners, it said Thursday. Through the InterLink network and portal, resellers can access discounts and promotions for Linksys products, education and training programs, sales, marketing and technical support, plus information about partner events, Linksys said. They can also communicate directly with members of the company’s executive business management team about ways to boost growth, it said. The top segment of the three-tier program gives resellers access to exclusive benefits such as a dedicated account manager, quarterly road map reviews and access to proof-of-concept units, it said.

AMC reached an agreement with Netflix to play a Netflix movie in theaters, a first for the movie theater chain, it said Thursday. Nov. 23-29, moviegoers in 200 U.S. locations will be able to watch Glass Onion: A Knives Out Mystery; it will also play at select Odeon Cinema locations in the U.K., Ireland, Italy, Germany and Spain. Tickets go on sale Monday on AMC’s e-commerce site and mobile app. AMC believes theatrical exhibitors and streamers can continue to coexist successfully, said AMC CEO Adam Aron, saying, "it has been our desire that we find a way to crack the code and synergistically work together.” Theaters can make more money by having more titles to show, and they will play to a wider audience when they are also are viewed on streaming platforms, Aron said. The agreement with Netflix "sufficiently respects the sanctity of our current theatrical window policy,” said the executive, saying AMC is hopeful for more cooperation between the two companies.

Amazon launched Amazon Catalytic Capital, an initiative to invest $150 million into venture capital funds, accelerators, incubators, and venture studios that provide funding to entrepreneurs from underrepresented backgrounds, mostly at the pre-seed/seed stage of venture capital funding, it said Wednesday. The company, which will invest in funds that focus on Black, Latino, Indigenous, women, and LGBTQIA+ founders, expects to support more than 10 funds and over 200 companies through the next year. In another initiative, Amazon last week committed close to $1 billion over the next year to higher wages for U.S. operations employees, saying it's raising average hourly pay for employees in customer fulfillment and transportation from $18 to more than $19; the wage scale is $16-$26 per hour depending on position and location. It also expanded its wage access program, Anytime Pay, to all employees in the U.S. operations, corporate and technology networks, giving employees access to up to 70% of their eligible earned pay, “whenever they choose and without fees, with the goal of putting employees in control of their pay schedule,” it said; staffers previously received regular pay once or twice monthly. The company is also investing in new skills training and wage access programs, formally adding Amazon Intelligence Initiative, a career advancement program designed to place employees in engineering roles within Amazon Web Services, it said.

Shares of Xperi hit a 52-week low Monday at $13.30 before closing 42.4% lower at $14.97, in its first day as an independent company on the New York Stock Exchange trading under the XPER symbol. Adeia, the IP licensing business of Xperi Holding, began trading under the ADEA symbol on the Nasdaq exchange, also Monday, after the spinoff with Xperi. Xperi Holding brands are Adeia, DTS, HD Radio, Imax Enhanced and TiVo, plus startup Perceive. Xperi CEO Jon Kirchner said the company’s strategy tracks industry growth trends “and creates a highly scalable revenue stream through engagement-based monetization.” The company’s market engagement model “is well positioned to drive partner adoption by allowing TV OEMs and automotive OEMs to brand the experience, retain customer ownership, and actively participate in long term revenue generation,” Kirchner said. He highlighted recent Xperi customer wins including European TV maker Vestel for TiVo OS and BMW and Mercedes on the automotive side. Adeia shares closed at $7.19.