Sabic’s Plastics Unit to Lay Off 10%

Sabic Innovative Plastics (Sabic-IP) says it will eliminate nearly 1,000 jobs worldwide, or about 10% of its workforce, due to the current economic downturn. The job reduction will comprise layoffs or attrition in the next year, Sabic-IP says. “We have spent the last nine months designing a new sales and marketing model that better meets the requirements of our diverse, global customer base. As such, our new model requires fewer, but more focused resources,” says a company...

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