DSM to cut costs after profit decline

Chemicals company DSM said on Tuesday it would undertake further cost cutting measures as first-quarter operating profit fell 76% to €57m.


Net profit fell from €162m in the first three months of 2008 to just €13m. Sales were down from €2.33bn to €1.84bn, the company said in a statement.
DSM now plans to cut its cost by a further €25m, bringing the total to €125m. Job losses will now total 1,250, the company said and further job losses cannot be ruled out.

Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation