CHEMICALS firm DSM will cut around 5% of its workforce as it seeks to save costs. The Dutch company says the 900-1,100 losses will help streamline the business and eliminate the duplication of job roles amid calls from activist shareholder Third Point to divide out its chemicals and nutritional businesses. The cuts will be made across functions from research to finance, and are expected to bring savings of up to ?150m (US$172m) by the end of 2017. Around half of the cuts will be in the Netherlands. DSM is planning to implement efficiency measures across R&D centres globally, Marketwatch reports.
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