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A so-called “restructuring program” foresees a reduction of about 1,000 jobs in the service and regional structures, Muttenzer said on Wednesday. However, about a third of the decommissioning will be achieved through the sale of parts of the business that have already taken place.
In Switzerland, only 25 jobs are affected by this measure, said a Clariant spokesperson when asked by AWP. At the end of 2019, the company had around 17,200 employees worldwide.
The reduction must also occur through natural fluctuations and extend for a maximum of two years. Clariant will reserve a provision of around 70 million Swiss francs for the reduction. The company declined to disclose how much Clariant saves.
The reduction is not well received by employees. It is the result of years of lack of innovation, for which the management is responsible, denounced the Syna union in a statement. Furthermore, the social partners were not informed in advance.
Disassembly with announcement
It is a reduction of jobs with advertisement. Because Clariant wants to bake smaller muffins in the future. The company had already put a third of its business up for sale a year ago. At the same time, the management had indicated that the future smaller company would have to be “resized” to avoid “superfluous” costs.
With the decision to sell, Clariant turned around and transformed an expansion strategy that it had followed until then into a “cure for contraction.” This became necessary after the planned merger with Huntsman failed and then the formation of a joint venture with Saudi Arabia’s main shareholder Sabic.
Clariant’s new core businesses include Care Chemicals (as substances for the cosmetic industry), Catalysts and Natural Resources (products for the oil and mining sector). Clariant hopes this will result in a more resilient product portfolio that no longer reacts as strongly to economic weaknesses.
Efficiency program “in full swing”
Clariant has already started in the areas of pharmaceutical packaging and masterbatches (colored granules). The pigments are still in the shop window; the process takes a little longer due to coroa. According to Clariant, a deal is not expected before mid-2021.
According to Clariant, an efficiency program that was previously launched is “in full swing.” By the end of 2021, around 600 jobs would be eliminated in this program. The aim of this first program is to reduce costs by about 50 million francs.
The stock market hardly reacts to the news. At around 12 noon, Clariant lost 0.9 percent.
