Huntsman to cut 470 jobs

Huntsman has announced that it will cut 470 jobs in a new effort to trim costs in the unit manufacturing and supplying dyes and chemicals.  The cuts represent about 12% of the 3,900 employees in the Textile Effects business acquired in June 2006 from Ciba Specialty Chemicals.

Huntsman is in the throes of fighting to complete its buyout by a unit of Apollo Management LP.