The iconic paint manufacturer Dulux is set for a downsizing drive as job cuts loom, its parent company AkzoNobel disclosed on Tuesday. In a move to curb expenses, the Dutch conglomerate announced a sweeping redundancy programme targeting completion by 2025 to enhance operational efficiency.

Boasting global operations across 150 nations, including the UK, AkzoNobel intends to “streamline” its managerial ranks, affecting upwards of five per cent of its 35,700-strong workforce worldwide.

With the UK’s future hanging in the balance, Dulux’s owner, which employs roughly 3,500 people across 15 locations within the UK and Ireland featuring nine factories, has kept mum on the exact number of British jobs at risk.

Amid persistent inflation hampering the construction materials sector alongside escalating salaries, AkzoNobel is pressing on with cost-cutting measures despite recently reporting a handsome uptick in pre-tax profits to €496m (£413m), chalked up to stringent cost management.

Company Chief Executive Greg Poux-Guillaume conveyed confidence, stating: “Over the last three quarters, we have demonstrated our ability to grow.”, as reported by City AM.

He further added, “We aim to accelerate profitable growth by optimising our functional organisation to become more agile in volatile markets and offset headwinds such as rising labour cost.”