SABIC plastics to cut 1,000 jobs

10 December 2008 17:57  [Source: ICIS news]

SABIC plastics to cut jobsHOUSTON (ICIS news)--SABIC Innovative Plastics will cut about 1,000 jobs - 10% of its global workforce - through 2009 as part of a restructuring plan, the company said on Wednesday.

SABIC spokeswoman Jodi Kennedy said the company will eliminate the jobs through attrition and lay offs. SABIC plastics employs about 10,500 people worldwide.

Kennedy declined to give specifics on the restructuring plan other than to say it would “intensify focus on our diverse customer base”.

“Basically, for last nine months, we designed a new business model that we think better meets the requirements of our diverse customer base. This new model requires fewer but more focused resources,” Kennedy said.

The company would not make a formal announcement on the plan or the lay offs for competitive reasons, Kennedy said.

Since Monday, SABIC plastics cut about 10% of its workforce at plants in Pittsfield, Massachusetts; Mt Vernon, Indiana; and Wood County, West Virgina.

SABIC Innovative Plastics is a subsidiary of SABIC.

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By: Ben Lefebvre
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