View Cart (0 items)

Rohm and Haas lays off 900

January 20, 2009
/ Print / Reprints /
| Share More
/ Text Size+
PHILADELPHIA — Specialty chemical company Rohm and Haas announced it will cut 900 jobs in response to widespread market weakness, according to MarketWatch.
The company, set to be acquired by Midland, MI-based Dow Chemical Company for $15.3 billion, has also frozen employee salaries for fiscal year 2009, the story stated.
Idle or under-utilized plants are set to close in the early part of 2009, the story noted.
Chief Operating Officer Pierre Brondeau said: "Our actions today are intended to adjust our operations to current business conditions, which reflect softening markets worldwide."
The structuring adjustments will cost the company about $90 million and will generate a pre-tax run-rate savings of roughly the same amount, the story added.
Click here to read the complete article.
For related information, click here.
You must login or register in order to post a comment.