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Clariant plans 1,000 job cuts amid divestments

Clariant AG plans to cut around 1,000 jobs as it slims down amid a series of divestments, the Swiss speciality chemicals company said on Wednesday.

Logo of Swiss specialty chemicals company Clariant is seen in Pratteln
FILE PHOTO: The logo of Swiss specialty chemicals company Clariant is seen at the company's headquarters in Pratteln, Switzerland October 29, 2017. REUTERS/Arnd Wiegmann

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ZURICH: Clariant AG plans to cut around 1,000 jobs as it slims down amid a series of divestments, the Swiss speciality chemicals company said on Wednesday.

"The rightsizing programme foresees a reduction of approximately 1,000 positions in service and regional structures. Approximately one third of the reductions will be included in the divestment transfers," it said, adding it would book a provision of around 70 million Swiss francs (US$76.9 million) in the fourth quarter for the programme.

(Reporting by Michael Shields; editing by Thomas Seythal)

Source: Reuters