Clariant will cut 1,000 jobs as part of specialties shift

Clariant says it will reduce its workforce of 17,000 by 1,000 through cost cutting and business divestments over the next 2 years. The firm says it wants to “rightsize” after the 2019 sale of its health-care packaging business, the sale earlier this year of its masterbatch business, and the anticipated sale of its pigment business. Clariant has a goal to transform itself into a high-value specialty chemical firm focusing on care chemicals, catalysis, and natural resources. The company already has an initiative to cut about 600 jobs by the end of 2021, saving $55 million annually.