Symrise restructuring
This article was originally published in The Rose Sheet
Executive Summary
Strategic realignment will result in elimination of 420-500 jobs worldwide, including positions in firm's Holzminden, Germany headquarters, Symrise announces June 22. Restructuring could produce additional cuts in the future, company adds. Flavors and fragrance supplier also is considering moving production facilities in Germany and North America to lower-wage countries. Realignment is aimed at further standardizing processes in all regions to increase consistency and efficiency, according to the firm, and changes to administrative and production divisions already have resulted in improvements in the past year. Symrise was formed in 2003 through a merger of Haarmann & Reimer and Dragoco...