FAIRLAWN, Ohio (Oct. 14)—Omnova Solutions announced Oct. 14 it will cut about 100 salaried and hourly positions as part of a companywide restructuring. The figure represents about 4.4 percent of the firm's worldwide workforce, Omnova said. Some positions were eliminated last month, while most notifications to affected employees are being made this week. The decision to cut jobs was necessary because of continued weakness in some of the company's markets and historically high raw material costs, said Kevin McMullen, Omnova chairman and CEO. The company expects to save about $6.2 million in 2004 as a result of the reductions, in addition to about $16 million in cost cuts it has taken in several areas through the third quarter of this year
Omnova Solutions to reduce workforce by 100
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