AkzoNobel to slash 2,000 jobs by 2026

The Dutch paint and coatings producer AkzoNobel says it will cut 2,000 jobs globally—about 5% of its workforce—by the start of 2026. The cuts will help the firm “become more agile in volatile markets and offset headwinds such as rising labor cost,” CEO Greg Poux-Guillaume says in a press release. The company stated in July that it expects pretax profits this year of between $1.68 billion and $1.85 billion, up from the $1.56 billion it reported for 2023. About half of AkzoNobel’s sales come from Europe, the Middle East, and Africa.