AkzoNobel is cutting 2,000 jobs worldwide

This article was last updated on September 24, 2024

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AkzoNobel is cutting 2,000 jobs worldwide

Paint manufacturer AkzoNobel is cutting 2,000 jobs worldwide. This is necessary, the company says, to improve efficiency. The idea is that with fewer people it should be possible to make decisions faster.

“Over the past three quarters, we have demonstrated our ability to grow. We aim to accelerate profitable growth by optimizing our functional organization,” CEO Greg Poux-Guillaume said in a press release.

More agile

He says AkzoNobel must “become more agile in volatile markets and be able to offset headwinds such as rising labor costs.”

Approximately 30,000 people work for AkzoNobel worldwide. In the Netherlands there are approximately 2,500. At the beginning of this year, the company agreed on a wage increase of 10 percent for factory staff in the Netherlands and 9 percent for office staff.

AkzoNobel is involved in a legal dispute in Australia surrounding a major liquefied gas project. The company is held responsible for damaged coatings on a pipe network. The paint company is therefore facing a claim of 1.5 billion euros.

AkzoNobel expects to complete the reorganization at the end of next year.