BERGEN OP ZOOM, Netherlands—Raw materials producer Saudi Basic Industries Corp. plans to cut 1,050 jobs in Europe, including 110 positions in the United Kingdom, as part of a restructuring program.
The company, which currently employs 6,200 in Europe, said that with the exception of its technology and innovation department—seen as an important growth area—areas of the business affected will include manufacturing and production operations, as well as administrative functions.
Plant closures will occur, and most of the U.K. job losses will occur at the company's facility on Teeside, England, the company said.
SABIC, based in Riyadh, Saudi Arabia, is a partner with ExxonMobil Chemical Co. in a major synthetic rubber plant project in that nation.
SABIC said talks were under way with trade unions and works councils and it hopes to conclude an agreement with them by the beginning of the summer holidays.
A spokeswoman said the restructuring will be implemented as soon as possible and should be completed by the first quarter next year.