Navigation

Clariant announces more job cuts

Specialty chemicals maker Clariant said on Tuesday it was cutting 1,000 sales and administration jobs in a bid to reduce costs.

This content was published on January 27, 2009 - 10:59

The firm said full-year sales had dropped five per cent in 2008 to SFr8.1 billion ($7.1 billion) as the economic downturn hit demand in the fourth quarter.

The job losses represent five per cent of Clariant's workforce and the company, based just outside the city of Basel, warned that more positions could be lost.

"We may well have to start another round of job cuts in 2009. The decision depends on the demand situation going forward," a spokesman said.

The move follows a 2006 "headcount reduction" of 2,200 employees and the company said it would not issue a dividend to shareholders for the year.

Clariant said it was very difficult to predict what would happen in the areas of textiles, leather, automotive and construction in the next few months.

Agrochemicals, oil services and de-icing have proven to be more resilient, Clariant said.

Clariant said it would publish its mid- and long-range targets when it releases its 2008 results and restructuring measures on February 17.

Articles in this story

This article was automatically imported from our old content management system. If you see any display errors, please let us know: community-feedback@swissinfo.ch

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Share this story

Change your password

Do you really want to delete your profile?