PPG Industries Inc. may cut as many as 4,500 employees later this year due to the worldwide economic downturn, particularly weak global demand from automakers and homebuilders, CEO Charles E. Bunch told Bloomberg News today.
PPG announced last September that it would eliminate about 1,000 jobs under a restructuring plan, and now is considering boosting the cuts to about 4,500 employees, Bunch said today during an interview with Bloomberg in New York. "That would be at the high end," he said.
Any cuts, which will be determined later this quarter, would be concentrated in auto-related units in North America and western Europe, Bunch said.
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