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Chemical Week Magazine :: Business & Finance :: United States/Americas
Sensient to cut 200 jobs, net earnings fall
7:10 AM MST | February 15, 2013 | —Vincent Valk
Manning: Flavors and fragrances heads to Chicago. Sensient is launching a broad restructuring plan that includes the shutdown and consolidation of several manufacturing plants in Europe and North America, and elimination of 200 jobs in 2013. Sensient expects to save $10 million annually as a result of the restructuring starting in January 2014. However, some cost savings will likely be seen during 2013, Sensient COO Paul Manning said during the company’s fourth-quarter earnings call. The cuts will result in a $20–24 million in 1-time cash expenses...
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