Great Lakes Chemical Corporation announces cost cuts, job cuts

Manufacturing News, Source : TheManufacturer.com
Published : 08 Oct 2003 15:17

Indianapolis, IN-based chemical manufacturer Great Lakes Chemical Corporation today announced plans for a series of workforce reductions, manufacturing consolidations, and other cost reduction steps.

Approximately 400 jobs, or roughly 9 percent of the total workforce, will be eliminated as a result of facility closures and other organizational changes.

These steps are expected to generate annual pretax savings of approximately $30 million for the company over the next year.

Great Lakes Chemical Corporation is the world's leading producer of certain specialty chemicals for such applications as water treatment, specialty household cleaners, flame retardants, polymer stabilizers, fire suppression, and performance chemicals.

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