PPG — a global manufacturer of paints, coatings, and specialty materials — is laying off nearly 2,000 workers as it trims operation costs and sells off a chunk of its architectural business. The cuts will impact about 1,800 positions, primarily in the U.S. and Europe. PPG didn't disclose when the layoffs would occur.
While these decisions are difficult, they are necessary to adjust our fixed cost base and to right-size our company following these two business divestitures," PPG CEO Tim Knavish said in a statement, referring to the company's recently announced plans to sell its silicas products business and the architectural coatings business in the U.S. and Canada.
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