Coatings provider AkzoNobel announced today that the company is taking steps to reduce cost and enhance the efficiency of its functions. A key element of this plan involves a reduction of around 2,000 positions globally. According to AkzoNobel, the initiative is designed to simplify operations, accelerate decision making, and streamline the company’s management structure. 

“Over the last three quarters, we have demonstrated our ability to grow. We aim to accelerate profitable growth by optimizing our functional organization to become more agile in volatile markets and offset headwinds such as rising labor cost,” said AkzoNobel CEO Greg Poux-Guillaume.

For the second quarter of 2024, the company reported an increase in organic sales of 2% compared to the same period in 2023, with volumes up 1% and revenue up 2%. The company’s operating income for the quarter was €270 million, compared to €279 million for the same period in 2023. 

According to AkzoNobel, the structural adjustments are planned to be finalized by the end of 2025.

Learn more at www.akzonobel.com.