Ciba to Cut 2,500 Jobs by 2009

Cummins: New CEO plans job cuts. Ciba Specialty Chemicals says it will cut 2,500 jobs, about 22% of its total workforce, by 2009. The company will eliminate 700-900 jobs this year and the rest will go next year, says CEO Brendan Cummins, who took the helm at Ciba in January. The majority of the cuts will take place in Europe, followed by the Americas and Asia, Cummins says. Ciba also says this year it will take a new approach to innovation that allocates resources to “opportunities” with the highest growth and profit potential. Ciba says it will...

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