Leadership & People

Sabic Innovative Plastics to Cut 10% of Workforce

Sabic Innovative Plastics says it will eliminate nearly 10% of the company’s global workforce due to the current economic downturn. Approximately 1,000 of Sabic-IP’s 10,500 employees will lose their jobs through layoffs or attrition in the next year as part of a plan to reduce staff worldwide.

“We have spent the last 9 months designing a new sales and marketing model that better meets the requirements of our diverse, global customer base. As such, our new model requires fewer, but more focused resources,” says Jodi Kennedy, Sabic spokeswoman.

The latest cuts occurred at the company’s U.S. headquarters in Pittsfield, MA, where 40 of its 300 employees were laid off this week.

By Lindsey Bewley

Source: Chemical Week