Chemicals giant Johnson Matthey is considering scrapping jobs in shake-up of company
Chemicals giant Johnson Matthey is considering scrapping jobs in a shake-up of the company.
The firm, worth £3.6billion, has reportedly told dozens of staff in Stockton-on-Tees they could be made redundant and their work moved to Malaysia.
But there are fears that the FTSE250 firm could be looking at a wider jobs cull after it said it was ‘exploring all options’ as part of a ‘new strategy to simplify the business’.
Shake-up: Johnson Matthey has reportedly told dozens of staff in Stockton-on-Tees they could be made redundant and their work moved to Malaysia
At its annual results in May, it said political and economic uncertainty ‘may affect’ the year ahead.
Last year, it issued a profits warning, and Liam Condon, previously of German group Bayer, took over as chief executive in March.
The firm, which has more than 13,000 staff worldwide, said: ‘We are exploring all options as part of our new strategy to simplify our business and service our customers better.’
It said it would consult employees before making any decisions.
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