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Kemira Announces Major Job Cuts

8:33 AM MDT | August 3, 2012

Kemira has announced a worldwide restructuring 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 is designed to help the company achieve annual revenue growth exceeding 3% and 7% in mature and emerging markets, respectively, as well as an operating margin of at least 10%, Kemira says. The program’s annualized cost-savings target is €60 million ($74 million). “The...

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