LyondellBasell Increases Cost Reduction Target; Cuts Jobs, Closes Plants

LyondellBasell, whose U.S. operations are under bankruptcy protection, says it will cut more than 3,000 jobs, about 17% of its total workforce and reduce the number of contractors working for the company by 2,000, or nearly 30% of the total. The rationalization also includes the closure of 20 offices and R&D sites and the closure of 10 or more manufacturing plants, most of which have been announced or completed, the company says. The moves form part of an increased fixed-cost reduction target to $700 million by end 2010 and are...

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