The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
480 jobs Number of planned job losses
Announcement Date
15 September 2006
Employment effect (start)
Foreseen end date
1 September 2008
Description
Swiss based agrochemical firm Syngenta is to cut 480 jobs across its global operations as part of a cost-cutting strategy. A Spokesman for the firm has said that 360 jobs will be lost in the UK, 50 in Switzerland, 40 in the U.S., and 30 in other locations.
Syngenta Head of Research and Development, David Lawrence, said: 'Syngenta invests more than $800m (£425m) annually in research and development for agriculture and is strongly committed to innovation.'
'These proposed changes will increase our flexibility and cost competitiveness as we address the opportunities and challenges of a fast-changing global crop protection market.'
The company said it hoped to save an annual $40m (£21m) with the changes.
Sources
15 September 2006: BBC News
Citation
Eurofound (2006), Syngenta, Internal restructuring in World, factsheet number 64091, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64091.
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