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Oct 12, 2009
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Clariant to cut further 800 jobs

By
Reuters
Published
Oct 12, 2009

ZURICH, Oct 12 (Reuters) - Swiss specialty chemicals company Clariant AG (CLN.VX) said on Monday 12 October it would cut another 800 jobs worldwide, on top of 1,850 job losses already announced this year.


www.clariant.fr

The cuts include 450 jobs in Europe, 180 of which are in Germany, and will bring the total staff below 18,000 this year.

Confirming an internal memo to staff obtained by Reuters, a spokesman also said the economic situation was still tough.

Clariant said in June it was cutting 500 jobs, on top of 1,350 job cuts announced at the start of the year.

In an interview with Reuters last month, chief executive Hariolf Kottmann said he expected global sales to be flat in 2010 following an estimated 15-20 percent fall this year amid continued weakness in consumer demand. [ID:nSHA126995]

Clariant, which makes pigments for products from textiles to cars, swung to a net loss in the second quarter and Kottman said he saw no sign of upturn in demand in the year ahead.

Clariant's shares were up 1.9 percent at 10.42 Swiss francs at 1347 GMT, in line with a 1.8 percent firmer DJ Stoxx European chemicals index .SX4P. (Reporting by Andrew Thompson; Writing by Emma Thomasson; Editing by Dan Lalor)

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