UPDATE 1-Philips mulls cutting hundreds of jobs in Europe

(Adds more job cut plans)

AMSTERDAM, July 1 (Reuters) - Philips Electronics (PHG.AS) (PHG.N) is considering cutting hundreds of consumer electronics jobs in France and the Netherlands due to weak markets and to improve competitiveness, it said on Tuesday.

Philips has proposed to its French works council cutting 279 jobs at its French TV factory in Dreux as part of a reorganisation plan for its struggling European TV operations to improve margins, a Philips spokesman said.

Philips has also proposed cutting 74 Dutch jobs at its consumer electronics unit, which includes TV production, "in line with market demands" and due to efforts to increase competitiveness, a Philips spokeswoman said.

Philips wants to sell a factory in Terneuzen, in t°‹