The Dutch supplier announced the planned job cuts today, explaining that the move is designed to save it €125m to €150m ($144m to $173m) over the next two years.
DSM said around half of the job cuts will be at its operations in the Netherlands and that aim is to streamline its global support functions.
It said: “The support functions will be globally leveraged across DSM to capture scale-benefits and deliver high-quality professional support at lower costs, among others via further standardization of processes, delayering, and elimination of duplications, resulting in a more efficient pooling of resources with clearer accountability for performance.
“This will lead to a reduction in size of the support functions, also in view of the transfer into partnerships of the Pharma, Polymer Intermediates and Composite Resins businesses.”
Chosen excerpts by Job Market Monitor. Read the whole story at DSM to cut as many as 1100 jobs by 2017; implications for pharma business.