PPG announces 1,100 job cuts globally

US-based coating giant has announced today a drastic cost reduction plan that will include dismissing a minimum of 1,100 employees globally. The measure reflects the rise in raw materials price, especially titanium dioxide, which is a key material to the company, PPG’s management has informed. The plan will cost the Pittsburgh-based company at least $85m in severance pays and will be completed before Q2 2019.  PPG’s shares have risen over 0.2% (Nasdaq) after the announcement.

(Source: WSJ)