Ingredient manufacturer Sensient Technologies said it was cutting 200 jobs to eliminate costs after reporting lower first quarter earnings on Thursday.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The maker of colours, flavours, and fragrances for the food industry, said earnings from continuing operations were US$11.0m in the quarter ending 31 March, compared to US$19.2m reported a year earlier. Revenue was down to US$195.7m from US$205.2m for the same period.
The company, which employs a workforce of 3,700 worldwide, said it was seeking to eliminate US$7m in costs as part of a drive to improve operating costs.