DUTCH TRADE UNION: AKZONOBEL STRATEGIC PLAN WILL LEAD TO JOB CUTS

DUTCH TRADE UNION: AKZONOBEL STRATEGIC PLAN WILL LEAD TO JOB CUTS

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(Reuters) A Dutch trade union said on Wednesday it will consider meeting with PPG Industries to discuss its planned 24.6 billion euro ($26.34 billion) takeover of rival AkzoNobel after the Dutch company announced a strategic plan that would lead to job cuts.

Erik de Vries of the Dutch Federation of Dutch Trade Unions said job cuts appeared to be certain in both the acquisition scenario and Akzo’s stand-alone strategy.

“What happened today was a game changer,” he said. “If PPG were to approach us to discuss this we would consider it.” ($1 = 0.9339 euros)

 

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