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People & Business :: Earnings/Finance
Ecolab to Cut 500 Jobs in Merger-Related Restructuring
4:09 PM MST | January 19, 2012 | Vincent Valk
Ecolab says it expects to eliminate 500 jobs as part of an effort to reduce operating costs by $250 million/year by 2014 following its acquisition of Nalco late last year. The cost savings target is up from a prior forecast of $150 million. In 2012, the Nalco merger is expected to generate $75 million in cost savings, up from a prior forecast of $35 million. Ecolab says that it expects to incur $180 million in merger-related restructuring costs from the fourth-quarter of 2011 through the end of 2013. It expects to incur $300 million in additional special charges...
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