Clariant plans 1,000 job cuts amid divestments

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 ($76.9 million) in the fourth quarter for the programme.