DSM profits fall in Q4, 250 jobs to go

Chemicals company DSM saw its operating profit fall 35% in the final quarter of 2008 to €123m and has announced that it will cut 250 jobs in the Netherlands.

Nevertheless, it was still a record year, DSM said in a statement. Full year operating profit was up 10% at €903m.
The 250 job cuts announced by DSM on Wednesday are part of the 1,000 reductions announced in December.
The company has been hit by a downturn in demand from the car, electronics and construction sectors.
‘We have implemented actions to prioritise the generation of cash and have swiftly taken the necessary steps to reduce costs in the affected businesses,’ CEO Feike Sijbesma said. He declined to give a forecast for 2009.

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