Fewer White Collars for CT Chemical Company

Chemtura will slash 500 jobs around the world

Chemtura's motto is "Building the Right Chemistry" but the economy is messing up its chemical balance.

The Middlebury-based specialty chemicals company is cutting at least 500 jobs worldwide.

Officials from the company said the job cuts are part of a restructuring program intended to slash fixed costs by about $50 million.

The company is taking a hit because customers, especially electronics and industrial customers, are cutting back and ordering less, according to a news release from Chemtura.

The cuts are part of a worldwide reduction in professional and administrative staff, or about 20 percent of its approximately 2,500 white-collar workers. The cuts will reduce the company's overall work force by nearly 10 percent.

In addition to the 500 jobs, the manufacturer of specialty chemicals, crop protection and pool, spa and home-care products, is altering its plant production rates to be more in line with customer demand and inventory reduction goals.

Copyright AP - Associated Press
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