LYONDELLBASELL INCREASES COST-REDUCTION TARGET; CUTS JOBS AND CLOSES PLANTS

摘要

LyondellBasell says it will cut more than 3,000 jobs, about 17% of its total workforce, and reduce the number of its outside contractors by 2,000, almost 30% of the total. The rationalization includes the closure of 20 offices and R&D sites, as well as at least 10 manufacturing plants. LyondellBasell filed for Chapter 11 bankruptcy protection for its US operations early this year. LyondellBasell recently announced that it would permanently close its Chocolate Bayou, TX, olefins plant which has capacity to produce 1.2 billion lb/year of ethylene and 725 million lb/year of propylene.