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Polymers

Major job cuts at Johnson Matthey, Toray Composite Materials America

by Craig Bettenhausen
June 13, 2020 | APPEARED IN VOLUME 98, ISSUE 23

 

Johnson Matthey, a specialty chemical firm that makes auto emissions catalysts, plans to eliminate 2,500 jobs worldwide—about 17% of its staff—because of COVID-19. The firm expects the cuts to save about $100 million. Meanwhile, Toray Composite Materials America has shut down its plant in Spartanburg, South Carolina, and reduced capacity at a plant in Tacoma, Washington. Toray says the moves will cut 25% of the business’s workforce. The unit makes carbon fiber and related materials for airplane manufacturers and other users. Toray says it expects 3–5 years of depressed aerospace sales.

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