Feb 25 2004
Switzerland-based specialty chemical manufacturer Clariant are to axe 4000 jobs over the next 2 years.
The job cuts are part of Clariant’s restructuring programme, adopted after the company lost 648 million Swiss Francs in 2002. While changes resulted in a 161 million Swiss Franc profit for the 2003 year, the work is still far from finished.
In a bid to become more competitive, Clariant will also look to offload non-core assets.
Other organizational changes to take place include concentrating activities into their north Switzerland headquarters. Directors are also planning a share issue which they hope will raise 920 million Francs in capital.
Clariant manufacture a range of specialty chemicals including dyes, pigments, additives, electronic materials and pharmaceuticals.
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