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Clariant’s Net Losses Widen; More Job Cuts Are Likely

10:21 AM MST | February 23, 2009 | Ian Young in Zurich

Clariant announced a widening of its net losses and a decrease in sales for the fourth quarter of 2008, and says it will launch a program to raise profitability and competitiveness to levels higher than the average of its peer group. Meanwhile, the company says it will likely cut more jobs than the 1,000 it announced last month. Kottmann: ‘Not yet where we want to be.’ Clariant reported a fourth-quarter net loss of SF207 million ($179 million), compared with a SF17-million loss a year earlier and deeper than analysts’ forecasts of a SF110...

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