PPG, a paints and coatings company, has announced plans to downsize. The company will sell the architectural paint division to a private equity company, as well as sell its silica products division to a company in Poland. PPG will also permanently close certain production facilities and lay off hundreds of employees. The company has not provided an exact number of the facilities that will close, but has stated that the company will cut 1800 employees. The changes will affect facilities in the United States and Europe, and it is expected to be a part of a larger multi-year plan. PPG’s CEO stated that the plan would help reduce the company to a better size and adjust the company’s fixed costs to increase efficiency.
See "Paints and coatings producer PPG announces several changes, including layoffs and facility closures", AP News, October 18, 2024