Royal DSM to Cut 1,000 Jobs as Chief Strives to Meet Profit Goals
8/8/2012 8:53:42 AM
Royal DSM NV (DSM), the world’s largest maker of vitamins, will cut 1,000 jobs across Europe as Chief Executive Officer Feike Sijbesma strives to meet profit goals. Cutting more than 4 percent of the workforce will help boost profit by 150 million euros ($185 million), Sijbesma and Chief Financial Officer Rolf-Dieter Schwalb said on a call. DSM, based in Heerlen, the Netherlands, fell as much as 5 percent to 39.14 euros after highlighting increased doubt over the strength of Europe’s economies.