The Dutch chemical and paint giant Akzo Nobel – which, among other things, manufactures Nordsjö paint – is warning of major cutbacks. A total of 2,000 jobs will be eliminated globally within the group, according to a press release.
Akzo Nobel has 1,000 employees in Sweden, according to the company's website. It is unclear how many of them will be affected.
The cutbacks are expected to be completed by the end of 2025 and aim to increase profitability and reduce costs.
The paint manufacturer reported an unexpectedly weak result for the second quarter of the year last summer and attributed it to headwinds due to inflationary effects and volume decreases in certain markets.
Akzo Nobel's share has fallen 22 percent on the Amsterdam stock exchange so far this year.
