Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Chemicals And Pharamceuticals
Manufacture Of Chemicals And Chemical Products
20.3 - Manufacture of paints, varnishes and similar coatings, printing ink and mastics

2,000 jobs
Number of planned job losses
Job loss
Announcement Date
5 April 2012
Employment effect (start)
2 April 2012
Foreseen end date
31 December 2012

Description

On 4 April 2012, US-based paints, chemicals and glass manufacturer PPG Industries announced the intention to cut 2,000 jobs. The job cuts account for 5.2% of the company's global workforce of 38,400 employees. The restructuring is due to a fall of demand for coatings in Europe and the industrial economic slowdown hitting hard chemical makers. 


Sources

  • 5 April 2012: Wall Street Journal ()

Citation

Eurofound (2012), PPG Industries, Internal restructuring in World, factsheet number 73438, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73438.