Dutch Philips Electronics

may have to take additional measures in the next months to keep the company healthy, its chief executive told workers in an internal magazine.

A Philips spokesman confirmed the magazine was distributed to Dutch workers. He did not elaborate on the measures but said it can be assumed that they would be in the area of cost cutting.

It cannot be ruled out that in the coming months, additional measures should be taken to keep Philips healthy and strong enough to grow profitable, when the crisis is over, Philips' Chief Executive Gerard Kleisterlee said in the company's Dutch internal magazine.

He also said it doesn't look like sales would recover during the second quarter.

Philips shares erased gains on the news and were down 1 percent at 13.60 euros by 0930 GMT.

Philips is the world's biggest lighting maker, a top-three hospital equipment maker and Europe's biggest consumer electronics producer.

(Reporting by Harro ten Wolde; editing by Mike Nesbit)

Electronics