Solvay To Cut 800 Jobs | Chemical & Engineering News
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Web Date: September 27, 2010

Solvay To Cut 800 Jobs

Reorganization: Action follows spin-off of pharmaceuticals business to Abbott Laboratories
Department: Business
Keywords: Solvay, job cuts, reorganization, specialty chemicals, pharmaceuticals

Belgian chemicals maker Solvay plans to cut 800 jobs, about 5% of its global workforce, as part of a plan to save more than $160 million annually and reorganize the firm.

Solvay expects that about $88 million in annual savings will come from the job cuts, while the balance will come from other cost savings measures, the firm says. The actions, to be completed by 2012, are intended to refocus the firm on its . . .

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