DSM Will Eliminate About 1,000 Jobs

The Dutch chemical maker DSM will cut 900–1,100 positions in support functions such as finance, human resources, and legal. The firm also says it will “implement efficiency measures” at its major R&D centers around the world, although it didn’t provide jobs figures. The moves, which are intended to create a more agile and cost-efficient organization, come after the firm partially exited major businesses in pharmaceutical chemicals, polymer intermediates, and composite resins by creating joint ventures. DSM expects the cuts to save between $145 million and $175 million annually by 2017. DSM says it will unveil an efficiency program for its nutrition business at its Nov. 4 investor day.