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People & Business :: Earnings/Finance

Kemira Plans Major Job Cuts for Worldwide Restructuring; Posts Lower Earnings

8:00 AM MDT | July 26, 2012 | Sotirios Frantzanas

Kemira has announced a global restructuring program to improve the company's profitability and internal efficiency, and to accelerate growth in emerging markets. The program could result in as many as 600 job cuts, or 11.6% of Kemira's global workforce, the company says. The restructuring, dubbed Fit for Growth, is designed to help the company achieve annual revenue growth exceeding 3% and 7% in mature and emerging markets, respectively, as well as an EBIT margin of at least 10%, Kemira says. The program's annualized cost-savings target is €60 million ($73...

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