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US chemical company Sun Chemical is laying off 31 of 224 full-time employees at its facility in Monthey VS, Rhône FM reports. That’s more than ten percent of the jobs.
The company specializes in the production of printing inks and pigments. It produces organic pigments at its factory in Monthey.
In the statement, the company justified the workforce reductions with overstock, high energy costs in production, inflation and declines in overall sales. Sun Chemical therefore applied for short-time working for November and December.
The reduction in personnel will largely occur through natural departures that will not be replaced. Five employees will be laid off and another seven employees will retire early. According to newspaper “Nouvelliste”, the group ended the fixed-term contracts of all its employees in the summer and has already reduced its workforce by ten percent.
The chemical company has more than 8,000 employees worldwide, of which a total of 300 are expected to lose their jobs. (smt)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
