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
Craig Arnold is currently the Chief Commercial Officer at Ferroglobe PLC in Madrid, Spain. Prior to this appointment, he had a long-standing career at Dow Inc., where he held various senior management roles, including an Executive Secondment (from Dow Inc.) and Advisor to the CEO at the Alliance to End Plastic Waste (AEPW) in Singapore.
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