Clariant cuts 1,000 jobs
Swiss chemicals company announces cuts on Tuesday due to sales losses.MUTTENZ - Specialty chemicals company Clariant AG said Tuesday it is cutting 1,000 jobs in 2009.
Clariant said the job cuts are the result of a sharp decline in customer demand for its products in the textile, leather, automotive and construction industries.
The company said its overall sales in 2008 dropped 5 percent to CHF 8.1 billion (USD 7.14 billion), from CHF 8.5 billion in 2007.
Clariant reports its full-year results on 17 February.
[AP / Expatica]