More jobs to go in Clariant restructure
Swiss speciality chemicals company Clariant International has reported second quarter 2009 sales of CHF1.6bn, a drop of 21% in local currencies (24% in CHF) on sales of CHF2.1bn from the same period last year.
Swiss speciality chemicals company Clariant International has reported second quarter 2009 sales of CHF1.6bn, a drop of 21% in local currencies (24% in CHF) on sales of CHF2.1bn from the same period last year.
The company blamed slow sales on “unprecedented low demand”. According to Hariolf Kottmann, ceo of Clariant, a quick recovery seems unlikely. But he added, “we are continuing with our efforts to reduce costs, generate cash and simplify our operating structure.” Strategies to this end include further job reductions in 2009 and 2010 in order to help close the performance gap between Clariant and its peers and to adjust the company’s structure to the global recession. This will be in addition to the 1,423 positions reduced to date.
The company has also announced that, beginning 1 January 2010, it intends to simplify its operational structure by removing its divisional management layer, thereby allowing ten business units to have full profit and loss responsibility including ownership of their assets. Clariant hopes that this will create greater flexibility.
