Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Ashland To Cut Up To 1,000 Jobs

by Marc S. Reisch
February 3, 2014 | A version of this story appeared in Volume 92, Issue 5

Ashland plans to restructure its operations into three separate units and cut up to 1,000 jobs worldwide during 2014 for annualized savings of up to $200 million. The company is making the move in anticipation of the planned sale of its water treatment business. “We intend to be a smaller, more agile operation with better cost control, improved visibility, and greater accountability,” CEO James J. O’Brien says. Remaining units will be specialty ingredients, including personal care and pharmaceutical ingredients; performance materials, including elastomers, intermediates, and solvents; and the Valvoline lubricants business. Ashland says it also plans to move up to 1,000 jobs as it consolidates into lower-cost office space in the U.S. and abroad.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.