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Web Date: April 9, 2012

PPG To Cut 2,000 Jobs In Europe

Restructuring: Losses to come mostly in European architectural coatings business
Department: Business | Collection: Economy
Keywords: coatings, job cuts, Europe

PPG Industries plans to cut 2,000 jobs, mostly in its European architectural coatings business. As a result, the firm will take a one-time $208 million charge against earnings to account for the cuts and unspecified asset write-offs.

According to CEO Charles E. Bunch, the cost reductions “are needed to ensure that our cost structure is appropriate for business conditions and that all of our operations remain competitive globally.”

As the cutbacks go . . .

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