Dutch nutritional supplements and chemicals company Royal DSM NV says it is laying off between 900 and 1,100 staff worldwide as part of a reorganization of its businesses.
The company announced the job cuts Tuesday, saying the move would cut costs by 125-150 million euros ($144-173 million) by the end of 2017. The restructuring aims at streamlining business support functions and eliminating duplication of jobs at the company, which employs some 25,000 people around the world.
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Chief Executive Officer Feike Sijbesma says that with the changes, "we become more agile, focused and cost-efficient."
About half of the job cuts will be in the Netherlands.