Huntsman cuts 1,175 jobs, closes plant
Chemical maker Huntsman (NYSE:HUN) says it will slash 1,175 jobs by the end of 2009, representing more than 9 percent of its work force, in effort to reduce costs as demand slows amid the global economic downturn.
The company also plans to cut an additional 490 contractors. Together, these layoffs will result in annual cost savings of about $150 million. The plant will stop production in the first quarter of 2009, affecting about 200 full-time employees and contractors, according to AP
