Huntsman Cuts Workforce by 9%; Closes U.K. Plant

Huntsman says it plans to cut about 1,175 jobs, 9% of its total workforce, and close its 40,000-m.t./year titanium dioxide plant at Grimsby, U.K. in a bid to reduce costs amid the economic downturn. The company will also lay off 490 full-time contractors. The cutbacks are expected to reduce annual operating costs by about $150 million, and the plant closure will save about $28 million/year, Huntsman says. “This restructuring will allow us to improve our business where we most acutely feel the effects of the present global economic slowdown, mainly in our...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers