EMCC European Monitoring Centre on Change

Solvay

Company/Organisation:
Solvay

Geographic Location

Country: World
Location of affected unit(s): UK, USA

Company

Sector: Manufacturing
Manufacture of chemicals and chemical products
20.5 - Manufacture of other chemical products
Number Employed: 2850

Employment Effects

Announcement Date: 15-05-2020
Planned Job Reductions min: 570
Planned Job Reductions max: 570
Type of Restructuring: Internal restructuring
Employment Effect Start: 17-05-2020
Foreseen End Date: 31-12-2020
Direct Dismissals: 570

Additional Information

The Belgian chemical company Solvay has announced a reorganisation of its composite materials business with 570 job cuts in the United States and UK as it accelerated its restructuring due to the COVID-19 pandemic. The total headcount of the division would fall by about 20%. The reorganisation leads to he closure of two sites at Tulsa (Oklahoma, USA) and Manchester (UK). The two sites will be closed before the end of the year. Solvay plans to transfer some activities to other plants in the USA and UK.  The division, which makes plastics, resins and carbon fibre material for the aerospace industry, had already started a cost-cutting programme with 500 job cuts due to reduced production of Boeing’s grounded 737 MAX plane (see ERM FS). But this reorganisation is currently not sufficient to overcome the drop in expected demand for civil aircraft caused due to COVID-19. 

 

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