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Denmark's Haldor Topsoe to cut 200 jobs due to U.S. sanctions on Iran

Danish engineering company Haldor Topsoe, one of the world's leading industrial catalyst producers, said on Wednesday it would cut around 200 jobs from its workforce of 2,700 due to new U.S sanctions on Iran.


Reuters 08 Aug 2018, 10:37 AM Denmark

Danish engineering company Haldor Topsoe, one of the world's leading industrial catalyst producers, said on Wednesday it would cut around 200 jobs from its workforce of 2,700 due to new U.S sanctions on Iran.

Companies doing business with Iran will be barred from the United States, President Donald Trump said on Tuesday, as new U.S. sanctions took effect despite pleas from Washington’s allies.

The company said the reinstatement of U.S sanctions had made it "extremely difficult" for its customers in Iran to finance new projects.

"We want to ensure that Topsoe remains a competitive business with significant potential for growth. Therefore, due to the current situation, we must, unfortunately, say goodbye to a number of good colleagues,” chief executive Bjerne Clausen said in a statement. 

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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