Syensqo announces restructuring plan, cuts also planned in Italy

Syensqo announced plans to adapt its organization to better meet the evolving needs of its customers and focus on projects that will accelerate growth. Following its split from Solvay at the end of 2023, the company has undertaken a comprehensive review of its structure and projects, to focus on growth opportunities and improve returns profile, consistent with its mid-term financial targets. As a result, the company is opening consultation processes, which include a proposed reduction of approximately 300 to 350 positions, primarily in France, the United States, Belgium and Italy.

“Since the start of the year, we have operated with more focus and have gained more clarity around our customers’ needs. In the context of ongoing macroeconomic and demand uncertainty, we now need to take the necessary actions to adapt and refine our organization to support our long-term growth,” said Ilham Kadri, CEO of Syensqo. “Our primary objective is to position Syensqo for success. Any decision that may affect our people is never taken lightly and we intend to act with the utmost respect for the employees who may be impacted by this announcement, guided by the principles of dignity and empathy”.

In parallel, Syensqo is advancing other initiatives to support its growth strategy. This includes the development of a world-class digital infrastructure to bring new levels of efficiency and agility across its operations, as Syensqo prepares to fully separate its business support systems from Solvay, as planned, by the end of 2025. These efforts will result in the creation of hundreds of new jobs in information technology, system infrastructure and business intelligence.