Celanese to cut jobs due to poor economic climate

15 January 2009 16:34  [Source: ICIS news]

(Recasts, clarifying attribution in paragraphs 2 and 3)

LONDON (ICIS news)--Celanese will reduce its workforce throughout many of its businesses due to the economic challenges currently affecting the entire chemical industry, a Celanese spokesman said on Thursday.

Celanese would align production capacity and staffing levels with “the current view of an economic environment of prolonged lower demand,” said Celanese’s Travis Jacobsen.

The number of job losses had not yet been predetermined, added Jacobsen.

“Despite these challenges, Celanese is a fiscally strong and responsible company and will continue to be successful despite the current conditions,” he said.

According to the company’s website, it currently employs around 8,000 people worldwide.

Other petrochemical majors have announced cost reductions and workforce cuts, most recently SABIC, DSM and US packaging and speciality company Meadwestvaco.

Further cuts at other companies were widely expected.

Celanese is a global integrated producer of chemicals and advanced materials.

It is a leading producer of acetyl products and the world’s largest producer of vinyl acetate monomer (VAM).

For more on Celanese visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Nel Weddle
+44 20 8652 3214

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