Ciba to cut 2,500 jobs by 2009
Canadian PlasticsCanadian Plastics
Global resin manufacturer Ciba Specialty Chemicals plans to cut 2,500 jobs by 2009 as part of ongoing restructuring...
Global resin manufacturer Ciba Specialty Chemicals plans to cut 2,500 jobs by 2009 as part of ongoing restructuring and cost-saving measures.
“We plan to cut about 600 jobs in the U.S., 1,600 in Europe with 350 of those in Switzerland and 300 in Asia Pacific,” Armin Meyer, Ciba’s chief executive officer, said.
The cuts will mostly occur through natural attrition, although there will also be some redundancies and likely some smaller plant closures, he added.
The cuts are part of Ciba’s operational restructuring plan that has seen the company focus increasingly on its three core businesses of plastic additives, coating effects and water & paper treatments.
Headquartered in Basel, Switzerland, Ciba employs approximately 15,000 people at 69 sites in 22 countries and 15 research centers in 12 countries. The company’s Canadian operations are located in Mississauga, Ont.