The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
4,200 jobs Number of planned job losses
Announcement Date
5 August 2003
Employment effect (start)
1 January 2003
Foreseen end date
1 February 2006
Description
Because of its debt, Clariant announced the closure of four agrochemical plants affecting 200 jobs in Germany and in the United States. In February 2004, Clariant announced it will axe 4,000 jobs over the next 2 years. The job cuts are part of Clariant's restructuring programme, adopted after the company lost 648 million Swiss Francs in 2002.
The group did not specify where the job cuts would be made, but said workers affected in Switzerland would be offered another position within the company.
Sources
24 February 2004: De Finacieele Telegraaf
6 August 2003: Les Echos
5 August 2003: Clariant Press release
Citation
Eurofound (2003), Clariant, Internal restructuring in World, factsheet number 59637, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59637.
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