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Business

Ciba slates job reductions

August 21, 2006 | APPEARED IN VOLUME 84, ISSUE 34

Following the sale of its textile effects business to Huntsman Corp., Ciba Specialty Chemicals will reduce companywide employment by around 2,500 positions over the next three to four years. Most of the reduction will come through attrition, but some layoffs will be necessary, the firm says. Ciba employs around 15,000 people worldwide. It says the job-cutting program, called Operational Agenda, will cost up to $250 million and will reduce its cost structure by up to $400 million annually.

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