Chemicals group Clariant cuts another 500 jobs

23rd June 2009, Comments 0 comments

The economic crisis will affect posts in Germany and Switzerland.

Zurich -- Swiss chemicals group Clariant will cut about another 500 jobs worldwide by the end of 2009, a spokesman for the company said Monday.

"We will carry out 500 job cuts, these measures have immediate effect," the spokesman said.

"The economic crisis is leading to a collapse in demand in the chemicals industry," he added.

About 200 of the job cuts will affect Clariant sites in Europe, including 70 posts in Germany and 40 in Switzerland, he said.

More restructuring measures were "probable" by 2010, he added.

The group recorded a loss of CHF 37 million (USD 32 million, EUR 25 million) in 2008 and said it would not return to profit until 2011.

It made a further CHF 91 million loss in the first quarter of 2009.

Clariant said in February that restructuring needed to accelerate, after announcing 1,350 job cuts in January.

The Swiss group employs about 20,000 people worldwide, according to its website.

AFP / Expatica

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