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11/25/2020, 8:26 AM (Source: TeleTrader)
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Clariant to slash 1,000 jobs

Swiss multinational chemicals company Clariant announced on Wednesday its rightsizing program that would result in the reduction of 1,000 positions in the service and the regional structures of the company.

According to the official press release, the company decided to save 70 million Swiss francs (approximately $76.8 million) from operations that will stop in the fourth quarter of 2020. The program will take place over a maximum of two years.

Clariant is already implementing another efficiency program that includes the discontinuation of approximately 600 positions and the cost savings of nearly 50 million Swiss francs until the end of next year.

Breaking the News / CG