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Chemical company Clariant is in the middle of a restructuring that involves the sale of around a third of the entire business. The future smaller company is reacting to this with the so-called “downsizing program.” This foresees a reduction of around 1,000 jobs in the service and regional structures, Clariant said in a statement Wednesday. About a third of the decommissioning is done by selling parts of the business that has already been done.
The reduction should also occur through natural fluctuations and should extend for a maximum of two years. For the reduction, Clariant will reserve a provision of around 70 million francs, the company said.
According to Clariant, a previously announced austerity program is “in full swing.” By the end of 2021, around 600 jobs would be eliminated in this program. The goal is to reduce costs by about 50 million francs. (SDA / ise)
