Syensqo makes cuts for long-term growth

Syensqo, the specialty chemical business that Solvay spun off almost a year ago, says it plans to cut between 300 and 350 jobs primarily in Belgium, France, Italy, and the US, from its workforce of 13,000. The firm did not disclose which types of jobs it will eliminate. “In the context of ongoing macroeconomic and demand uncertainty, we now need to take the necessary actions to adapt and refine our organization to support our long-term growth,” CEO Ilham Kadri says in a press release. At the same time as these cuts, Syensqo says it will be creating hundreds of new jobs in information technology, system infrastructure, and business intelligence.