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Akzo Nobel cut to 3,500 jobs

Paint manufacturers Akzo Nobel are shedding 3,500 jobs worldwide by 2011 as part of a cost-cutting drive.
The company, who bought ICI in an £8bn deal earlier this year, said the move would lead to extra savings of 100m euros ($144m; £79m).

Most of the job cuts will go in the Decorative Paints business in North America and Europe.

Market conditions have also caused the company to suspend a 1.6bn-euro share buyback programme.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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