Ashland To Cut Up To 1,000 Jobs | Chemical & Engineering News
Volume 92 Issue 5 | p. 12 | Concentrates
Issue Date: February 3, 2014

Ashland To Cut Up To 1,000 Jobs

Department: Business
Keywords: layoffs, restructuring, cost savings

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.

 
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