The chemical company Clariant is in the middle of a restructuring that involves the sale of around a third of the entire business. So that the future smaller company also has a suitable suit, the company has to be redesigned.
A so-called “rightsizing program” provides for a reduction of around 1,000 jobs in the service and regional structures, Clariant said in a communiqué on Wednesday. Around a third of the dismantling is done through the sale of parts of the company that has already taken place.
The reduction should also take place via natural fluctuation and should extend over a maximum of two years. For the downsizing, Clariant will set up a provision of around 70 million francs, the company explained.
According to Clariant, an efficiency program previously announced is “in full implementation”. By the end of 2021, around 600 jobs would be cut in this program. The aim is to cut costs by around 50 million francs.