|
News
Font Size: 
July 2, 2008 |
Rohm and Haas, Philadelphia, PA, has announced that it will be cutting 925 jobs in North America as part of a restructuring plan.
“Many of these actions have been discussed publicly in recent quarters as initiatives that would restore profitability, address the changing needs of our customers, and contribute to our growth objectives,” said chairman and CEO Raj L. Gupta in a statement. “We are now convinced it is a more prudent course of action to accelerate the implementation of these plans due to the rapid erosion of business conditions in the U.S., and the impressive growth of our business in many Rapidly Developing Economies.”
Other elements of the restructuring plan, called Vision 2010, that were announced include:
- A 30 per cent reduction of installed capacity in the company's emulsions network in North America, reflecting the impact of productivity improvement efforts and reduced market demand;
- Significant reductions in overhead expenses for the Specialty Materials group in mature markets;
- Adjustment of the company's infrastructure for its Electronic Materials group, reflecting the increased shift of the business to Asia.
www.rohmhaas.com
News Archives
|
leftnav.html
