Huntsman Corporation has announced a company-wide initiative to reduce costs across its divisions and functions, including further reduction in the number of full-time employees. Including steps taken during the fourth quarter of 2008, Huntsman will reduce its full-time employment by approximately 1175 positions by year's end or approximately 9% of its employees. Full-time contractors will be reduced by an additional 490 positions. Together, these reductions will result in operating cost savings to the company of approximately 150 million.
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