DSM To Axe 400 Jobs In Shake-Up To Lower Costs
10/19/2005 5:12:24 PM
CHEMICALS group DSM is to shed 400 jobs as part of a reorganisation of the Dutch firm’s anti-infectives activities aimed at cutting costs by tens of millions of pounds.
Plants in the Netherlands will be closed and production in China and India increased, the company confirmed in a statement.
It has also decided to end its joint venture with GlaxoSmithKline in the UK for the production of penicillin-related product 6 APA. In addition, DSM plans to reduce its involvement in a joint venture in Mexico.
DSM said it would give full financial details with its annual results in February. Of the 400 jobs, 250 will go in the Netherlands.