Dulux paint maker targets a benefit of €300m by 2027 through a restructuring plan
29 January 2025 - 14:34
byDimitri Rhodes and Anna Peverieri
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AkzoNobel's factory in Ashington, Britain, is shown in this file photo. Picture: REUTERS
Akzo Nobel expects to cut about 2,200 jobs and to close at least five more sites in 2025 as part of its restructuring efforts, the Dulux paint maker said on Wednesday.
Akzo Nobel, which had about 34,600 employees at the end of December, had last year said it planned to cut about 2,000 jobs globally by the end of 2025.
“We expect to deliver over €150m of annualised gross savings with the full run rate achieved by the end of this year,” CEO Greg Poux-Guillaume said during a conference call with analysts.
The Amsterdam-listed company said the job cuts, to be carried out in functional positions such as finance and HR, would be finalised by midyear, after which it would focus on higher job grades in Europe.
Aside from the planned site closures this year, more were already scheduled for 2026, along with a possibility of further job cuts, it said.
The paint and coatings maker last year announced plant closures in Ireland, the Netherlands and Zambia. In January, it said it would lay off up to 211 people in France.
“We don’t want to create the impression that restructuring is a recurring item for Akzo Nobel,” the CEO said.
“Whatever the number ends up being ... it will be something that we will finalise this year and then we’ll move on.”
The group now targets a benefit of €300m by 2027 through the restructuring plan it announced two years ago to combat a post-Covid slowdown in its decorative do-it-yourself business in Europe.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
AkzoNobel plans to cut more jobs, plant closures
Dulux paint maker targets a benefit of €300m by 2027 through a restructuring plan
Akzo Nobel expects to cut about 2,200 jobs and to close at least five more sites in 2025 as part of its restructuring efforts, the Dulux paint maker said on Wednesday.
Akzo Nobel, which had about 34,600 employees at the end of December, had last year said it planned to cut about 2,000 jobs globally by the end of 2025.
“We expect to deliver over €150m of annualised gross savings with the full run rate achieved by the end of this year,” CEO Greg Poux-Guillaume said during a conference call with analysts.
The Amsterdam-listed company said the job cuts, to be carried out in functional positions such as finance and HR, would be finalised by midyear, after which it would focus on higher job grades in Europe.
Aside from the planned site closures this year, more were already scheduled for 2026, along with a possibility of further job cuts, it said.
The paint and coatings maker last year announced plant closures in Ireland, the Netherlands and Zambia. In January, it said it would lay off up to 211 people in France.
“We don’t want to create the impression that restructuring is a recurring item for Akzo Nobel,” the CEO said.
“Whatever the number ends up being ... it will be something that we will finalise this year and then we’ll move on.”
The group now targets a benefit of €300m by 2027 through the restructuring plan it announced two years ago to combat a post-Covid slowdown in its decorative do-it-yourself business in Europe.
Reuters
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