USA U.S. chemical compound and resin maker A. Shulman Inc. has announced it will restructure its global operations in order to cut costs. The first measure resulting from this decision is the order to cut 5% of its workforce, which implies the elimination of 64 specific positions in Europe and Mexico.In Europe, the company will concentrate its largest production volumes in a few facilities and will restructure its plants with lower production capacity to have better local service with lower volume orders, adapting manufacturing to continue supplying the needs of its customers.
These adjustments are expected to be completed in the fourth quarter of 2009 and generate annual savings of between US$2.5 million and US$3 million after taxes, according to the Empresas Exterior portal.
The company clarified that no facility will be completely closed as a result of this action.
