Saint-Gobain to Cut 4,000 Jobs

Job cuts will be in Britain, Spain and the U.S.

Saint-Gobain said July 24 it would cut 4,000 jobs this year, mostly in Britain, Spain and the U.S., as part of a cost-cutting drive in the face of a sharp downturn in the housing market.

"Faced with the gradual deterioration in the international economic environment since summer 2007, the group has stepped up the cost cutting program put in place for the U.S. in the second half of 2006 and for certain European countries at the end of 2007," Saint-Gobain said.

"In total, these programs will lead to additional full-year workforce reductions of 6,000, including 4,000 in 2008, and generate savings of 435 million euros (US$682 million), of which 300 million euros for 2008."

Group managing director Pierre-Andre de Chalendar said most of the cuts would affect facilities in Britain, Spain and the United States. But he added that several distribution outlets in France could also be affected.

Copyright Agence France-Presse, 2008

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