Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Clariant Chief Pushing Ahead With Cutbacks Eyeing 2014 Payback

May 21 (Bloomberg) -- Clariant AG will begin making cuts in support services such as administration and human resources in the coming months, Chief Executive Officer Hariolf Kottmann said in a letter to employees.

“We will shortly begin implementing specific projects, which will be directed by the Executive Committee,” Kottmann wrote in the letter, saying that Clariant will see the benefits of the measures in 2014.

“We will only succeed in avoiding remnant costs and reducing corporate costs if we intensify our efforts,” the CEO added.

Clariant is nearing the end of a revamp which will see it exit five commodity chemicals units making up one-fifth of sales to focus on more profitable care chemicals and catalyst businesses. In a next phase, Kottmann is turning to finetuning and lowering costs in areas such as human resources to reflect the scaled back size of the company.

Kottmann also pledged to cut costs such as fees paid to advisers associated with restructuring.

Clariant spokesman Kai Rolker declined to comment on how the corporate and remnant cost cuts will affect headcount. The measures do not constitute a corporate restructuring program and Clariant has no announcement about job cuts planned, he added.

To contact the reporter on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.