Chemicals Giant Ineos Cuts Jobs at UK Plant on Hit From Imports

Chemicals giant Ineos Group is cutting 60 jobs — about 20% of the workforce — at a plant in Hull, England due to high energy costs and cheap imports from China.

The Acetyls plant makes ingredients for pharmaceuticals, adhesives and the food industry. The decision follows a plan announced on Monday by the company’s Inovyn unit to cut production in Germany for similar reasons, a move that will result in the loss of 175 jobs.