DuPont Coatings & Color Technologies to cut jobs
DuPont has announced that it will launch a global plan to reduce costs and improve productivity in its performance coatings businesses.
Under the plan, the company plans to close and consolidate laboratory and manufacturing sites resulting in the reduction of approximately 1,500 positions, most of them in
The company will focus production at its new sites in growing market areas such as
The manufacturing and laboratory facilities that will close include the Rubi and Polinya sites in
DuPont expects to implement the plan within the next 18 months and estimates it will reduce annual costs by approximately $165 million. This plan will result in one-time pre-tax restructuring charges of up to $165 million as well as additional costs of up to $55 million over the next 12 months from accelerated depreciation and other costs associated with implementation of the plan.
