Eastman Chemical Co. says it is cutting an undisclosed number of jobs globally, citing “the ongoing U.S.-China trade dispute” and an economic slowdown in Europe.
Eastman spokeswoman Betty Payne said in a statement Thursday that the chemical and plastics manufacturer has seen reduced demand for its products, and it must do more to manage costs amid “tremendous uncertainty.”
Eastman says is delaying salary raises for employees in certain jobs. The Kingsport, Tennessee-based company also said it is making a “modest and targeted reduction in our workforce.” Payne would not share specific details.
The company reported $10.2 billion in sales last year. CEO Mark Costa said in a Jan. 31 financial report that Eastman had a challenging fourth quarter as demand for specialty products in China fell.
By Adrian Sainz
Source: Associated Press via Fox News
INEOS, Europe’s biggest operator of electrolysis needed to produce clean, low carbon hydrogen, has doubled down on its €2 billion investment in green hydrogen with the launch of a hydrogen advocacy campaign. The campaign kicked off with the publication of a powerful editorial in the Sunday Telegraph on the hydrogen economy written by Sir Jim Ratcliffe, INEOS’s founder and chairman.
Vertellus, a manufacturer of specialty products for consumer goods, food & agriculture, healthcare, and industrial markets, today announced the completion of its acquisition of IM Chemicals. With the addition of IM Chemicals, Vertellus expands its specialty ingredients portfolio into new markets and bolsters its manufacturing capabilities in Europe.
A new collaboration between scientists, engineers, industry and farming experts hopes to demonstrate how clever technology can reduce the powerful greenhouse gases released by livestock to help agriculture reach carbon emissions targets.