Reputable paint and coatings manufacturer PPG Industries announced it will cut 1,800 employees and close several plants in the US and Europe as part of its cost reduction plan. Additionally, the company plans to sell its architectural coatings business in the US and Canada, as well as its silica products business, and it is expected that these transactions will be completed by the end of 2024 or early 2025. PPG anticipates that when fully implemented, these cost reduction measures will save approximately $175 million in pre-tax expenses each year, including $60 million in 2025. The company will record $250 million in pre-tax expenses in the fourth quarter of 2024.

Reputable paint and coatings manufacturer PPG Industries announced it will cut 1,800 employees and close several plants in the US and Europe as part of its cost reduction plan. Additionally, the company plans to sell its architectural coatings business in the US and Canada, as well as its silica products business, and it is expected that these transactions will be completed by the end of 2024 or early 2025. PPG anticipates that when fully implemented, these cost reduction measures will save approximately $175 million in pre-tax expenses each year, including $60 million in 2025. The company will record $250 million in pre-tax expenses in the fourth quarter of 2024.