Pittsburgh-based PPG to cut 1,700 jobs

PITTSBURGH — Pittsburgh-based PPG on Friday announced a global restructuring plan that will result in the elimination of about 1,700 positions worldwide, or about 3.6 percent of its 47,000 workers.

The company said it anticipates minimal impact to positions in Pittsburgh.

PPG said the restructuring efforts are focused on regions and end-use markets where business conditions are weakest, and will include reductions in operating, functional and administrative costs.

"Because of continued slow overall growth in global demand, we are taking decisive action to adjust our cost structure," Michael H. McGarry, PPG chairman and chief executive officer, said in a news release sent to Channel 11 News.

The company expects the restructuring actions to generate $120 million to $130 million in annual savings.

A PPG media spokesperson issued the following statement to Channel 11 News:

"The restructuring efforts are focused on regions and end-use markets where business conditions are weakest, and PPG anticipates minimal impact to positions in Pittsburgh. PPG anticipates that restructuring efforts will result in the net reduction of approximately 1,700 positions spread across the global reach of the company. So there is expected to be minimal overall impact to any one, specific region. We continue to invest and grow our workforce in parts of the company that exhibit growth potential."

Cox Media Group