French glass maker Saint-Gobain cutting jobs as economy worsens

French building materials giant Compagnie de Saint-Gobain SA said it would slash 6,000 jobs as part of a €435 million ($682 million) cost-cutting plan to adapt to worsening global economic conditions.

Saint-Gobain, a leading supplier of glass to the automotive and building industries, said 4,000 of the job cuts would be made this year, accounting for most of the €300 million ($470 million) cost savings this year.

Most of this year's cuts will be made in the U.S., 1,550 jobs; the U.K., 1,100 jobs; and Spain, 270 jobs, spokeswoman Sophie Chevallon said Friday. In the rest of Europe, cuts will be made through the end of temporary work contracts, a hiring freeze and the non-replacement of departing employees, Chevallon said.

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600450 French glass maker Saint-Gobain cutting jobs as economy worsens glassonweb.com
Date: 29 July 2008
Source: Iht

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