Johnson Matthey cuts nearly 20% of staff as demand plunges
Johnson Matthey says cost cuts will come from consolidating plants in its Clean Air division, which accounts for about 60% of sales
11 June 2020 - 18:32
London — Chemicals maker Johnson Matthey halved its dividend on Thursday and said it would cut nearly a fifth of its workforce as the coronavirus pandemic hits demand for its car pollution filters.
The company, one of Europe's leading producers of autocatalysts, said the 2,500 layoffs, or 17% of its staff, were part of a new plan to target annualised savings of at least £80m over the next three years...
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