Syensqo announces up to 350 job cuts, impacting 36 roles in Belgium

Specialty chemicals company Syensqo, a spin-off from Solvay, has announced plans to cut 300 to 350 jobs globally, impacting roles in Belgium, France, the United States, and Italy. In Belgium, 36 jobs are at risk.

The company cites economic uncertainty and fluctuating demand as factors behind the cuts, which aim to support Syensqo’s growth. However, Syensqo also plans to create hundreds of new roles in IT, infrastructure, and business intelligence, offsetting some of the losses.

Syensqo’s third-quarter results reported stable revenue at 1.633 billion euros, though EBITDA fell 10 percent to 374 million euros. The company also revised its 2024 EBITDA target downward, reflecting reduced demand due to the Boeing strike, which affected sales of Syensqo’s composite materials.

Headquartered in Brussels, Syensqo also operates a research centre and has production sites in Oudenaarde and Kallo, East Flanders, where it manufactures high-performance polymers. In total, the company employs over 450 people in Belgium.

^{#FlandersNewsService | Syensqo CEO Ilham Kadri © BELGA PHOTO BENOIT DOPPAGNE}