ICI to cut 600 head office jobs

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The Independent Online
ICI IS to cut 600 out of the 900 jobs at its head offices in the UK and US by the end of next year, generating net savings of about pounds 25m a year, the chemicals group announced yesterday as it unveiled better-than-expected results for the six months to 31 December.

Brendan O'Neill, chief executive, also said the group was considering whether to remain at its London headquarters at Millbank. ICI, which is refocussing on speciality chemicals, predicted further improvements in the second half as continues to sheds assets and jobs under its three- year reorganisation programme. Investment, page 19