BRUSSELS (Reuters) - Chemical group Solvay (SOLB.BR) said on Thursday it was planning to cut 600 jobs, mainly in France, Portugal and Brazil and to concentrate research activities in Lyon and Brussels.
Solvay, which employs 24,500 people in 61 countries, said it was simplifying its structure after it had sold off many business units over the past years.
The group said that while 160 jobs would disappear in France, 90 in Portugal and 80 in Brazil, it would seek to make most redundancies voluntary or through the normal retirement cycle.
Solvay also said it would move most of its research and development activities from the Paris area to its chemistry research centre in Lyon, some 400 kilometres (250 miles) south of the French capital, and to its advance materials science centre in Brussels, Belgium.
The group said it would give financial impact of the restructuring with its first quarter results, due to be released on May 3.
Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop