Dulux paint maker AkzoNobel to slash 2,000 jobs worldwide
AkzoNobel, the Dutch company behind Dulux paint, has announced plans to eliminate approximately 2,000 jobs worldwide. This move is part of a broader cost-cutting strategy that primarily targets positions at its head offices. The company's senior spokesperson confirmed to Reuters that roles in finance or global business services at the head offices would be impacted by this decision.
AkzoNobel's cost-saving plan amid post-COVID challenges
The job cuts are part of an "industrial transformation" plan unveiled by AkzoNobel last year, with the aim of saving €250 million by 2027. This initiative was launched in response to a post-COVID slowdown characterized by increasing raw material costs and customer destocking in its decorative do-it-yourself segment in Europe. The company had previously announced plant closures in Ireland, the Netherlands, and Zambia as part of this strategy.
Uncertainty over cost savings and timeline for job cuts
AkzoNobel has not provided a specific estimate on how much costs would be saved with the job reductions. The company's spokesperson also noted that part-time positions could be affected by these changes. According to the company, these "structural adjustments" are expected to be finalized by the end of 2025.
