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08/08/2001
BOC jobs to go following third quarter results
Industrial chemicals giant BOC Group has announced plans to reduce its worldwide workforce by 1,500 following the publication of results for the third quarter.
Figures detailing the company’s third quarter performance showed that BOC made a profit of £118.9m before tax and exceptional items, coming in at analysts’ expectations.
However, the group say they foresee a lessening in demand in the semiconductor sector - who are among BOC’s principle customers - and are to implement a proactive restructuring programme aimed at saving the company over £50 million a year.
This means that over 200 jobs are set to go from BOC’s UK operations in Surrey, Aldershot and London, which together employ over 11,000 individuals in the field of gas technology solutions.
With manufacturing outlets in sixty countries, BOC employ 35,000 people worldwide, with a product portfolio that includes vacuum technology and distribution services businesses in addition to their core gas supply business. (CL)
Figures detailing the company’s third quarter performance showed that BOC made a profit of £118.9m before tax and exceptional items, coming in at analysts’ expectations.
However, the group say they foresee a lessening in demand in the semiconductor sector - who are among BOC’s principle customers - and are to implement a proactive restructuring programme aimed at saving the company over £50 million a year.
This means that over 200 jobs are set to go from BOC’s UK operations in Surrey, Aldershot and London, which together employ over 11,000 individuals in the field of gas technology solutions.
With manufacturing outlets in sixty countries, BOC employ 35,000 people worldwide, with a product portfolio that includes vacuum technology and distribution services businesses in addition to their core gas supply business. (CL)
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