AkzoNobel, one of the world's best-known paint companies and maker of Dulux paint, announced on Tuesday it would cut 2,000 jobs, more than five percent of its total workforce. Dulux paint. Photo: Phil Noble
AkzoNobel, one of the world's best-known paint companies and maker of Dulux paint, announced on Tuesday it would cut 2,000 jobs, more than five percent of its total workforce.
The Dutch company cited the need to cut costs as the reason for the layoffs.
Chief Executive Greg Poux-Guillaume said the layoffs would allow the company to better navigate volatile markets and cut increasingly high labor costs.
Although AkzoNobel has posted profits for three consecutive quarters, rising raw material prices and a slowing global economy are taking their toll on the company.
As of the end of last year, the company had 35,200 employees in more than 150 countries.