Syensqo accelerates efficiency measures to support long-term growth
November 05 2024 - 1:05AM
UK Regulatory
Syensqo accelerates efficiency measures to support long-term growth
Syensqo accelerates efficiency measures to support long-term
growth
The company aims to accelerate time to market and adapt to the
economic environment
Brussels, November 5, 2024 - 7:05 CET
Syensqo is today announcing plans to adapt its
organization to better meet the evolving needs of its customers and
focus on projects that will accelerate growth.
Following its split from Solvay at the end of
2023, the company has undertaken a comprehensive review of its
structure and projects, to focus on growth opportunities and
improve returns profile, consistent with its mid-term financial
targets.
As a result, Syensqo is opening consultation
processes, which include a proposed reduction of approximately 300
to 350 positions, primarily in France, the United States, Belgium
and Italy.
“Since the start of the year, we have operated
with more focus and have gained more clarity around our customers’
needs. In the context of ongoing macroeconomic and demand
uncertainty, we now need to take the necessary actions to adapt and
refine our organization to support our long-term growth,” said Dr
Ilham Kadri, CEO of Syensqo. “Our primary objective is to position
Syensqo for success. Any decision that may affect our people is
never taken lightly and we intend to act with the utmost respect
for the employees who may be impacted by this announcement, guided
by the principles of dignity and empathy”.
In parallel, Syensqo is advancing other
initiatives to support its growth strategy. This includes the
development of a world-class digital infrastructure to bring new
levels of efficiency and agility across its operations, as Syensqo
prepares to fully separate its business support systems from
Solvay, as planned, by the end of 2025. These efforts will result
in the creation of hundreds of new jobs in information technology,
system infrastructure and business intelligence.
Safe harbor
This press release may contain forward-looking
information. Forward-looking statements describe expectations,
plans, strategies, goals, future events or intentions. The
achievement of forward-looking statements contained in this press
release is subject to risks and uncertainties relating to a number
of factors, including general economic factors, interest rate and
foreign currency exchange rate fluctuations, changing market
conditions, product competition, the nature of product development,
impact of acquisitions and divestitures, restructurings, products
withdrawals, regulatory approval processes, all-in scenario of
R&I projects and other unusual items. Consequently, actual
results or future events may differ materially from those expressed
or implied by such forward-looking statements. Should known or
unknown risks or uncertainties materialize, or should our
assumptions prove inaccurate, actual results could vary materially
from those anticipated. The Company undertakes no obligation to
publicly update or revise any forward-looking statements.
About Syensqo
Syensqo is a science company developing
groundbreaking solutions that enhance the way we live, work, travel
and play. Inspired by the scientific councils which Ernest Solvay
initiated in 1911, we bring great minds together to push the limits
of science and innovation for the benefit of our customers, with a
diverse, global team of more than 13,000 associates.
Our solutions contribute to safer, cleaner, and more sustainable
products found in homes, food and consumer goods, planes, cars,
batteries, smart devices and health care applications. Our
innovation power enables us to deliver on the ambition of a
circular economy and explore breakthrough technologies that advance
humanity.
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Contacts
Investors & Analysts |
|
Media |
Sherief Bakr
+44 7920 575 989
Loïc Flament
+32 478 69 74 20
investor.relations@syensqo.com
|
Bisser
Alexandrov
+33 607 635 280
Callie Gauzer
+1 908 642 7363
|
Perrine Marchal
+32 478 32 62 72
Laetitia Schreiber
+32 487 74 38 07
media.relations@syensqo.com
|
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