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ICI Announce Restructuring Plan

May 2 2003

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ICI have announced the fist stage of a restructuring plan, aimed at saving the company £30million of sustainable bottom line savings by 2005.

The restructure however, will result in the loss of about 700 jobs. Of the 700 jobs to go, approximately 300 will come from the UK, 300 from the rest of Europe, 70 from North America and 30 from the rest of the world.

The area set to see the biggest changes is the paints division. The paints division has 10 sites across Europe, which will shed approximately 460 jobs and save £30million as a result of the changes that will be implemented during the restructure.

For more information on paints, click here.

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