16 January 2009 20:03 [Source: ICIS news]
HOUSTON (ICIS news)--US water-chemicals producer Nalco has cut more than 400 jobs to save $40m/year (€30m/year), the company said on Friday.
Nalco started removing the positions in 1 October, the company said.
"We have completed the planned significant personnel and organistional changes needed to help position Nalco to succeed in 2009 and beyond, despite very challenging global economic conditions," according to a statement by Erik Fyrwald, CEO.
In other news, Nalco has adopted what it calls an integrated business management approach, which will give the heads of its divisions more responsibilities, the company said.
"In addition to sales and marketing responsibility, they will have responsibility for the other resources needed to drive performance - including supply chain operations, research, finance, human resources and other capabilities," Fyrwald said.
As part of this change, Nalco has formed a new division, water process services. Dave Flitman, Nalco executive vice president, will oversee the new division.
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