Pittsburgh-Based PPG Plans To Lay Off 1,800 Workers and Close Facilities

This Pittsburgh-based company is laying off 1,800 workers and will close some facilities.Photo byMasaski Komor/Unsplash

According to a new report by the Pittsburgh Gazette, PPG plans to lay off 1,800 workers and close facilities. The architectural paint business headquartered in Cranberry announced that it had reached a deal to sell its business in the U.S. and Canada "in a transaction valued at $550 million".

The company has over 6,000 employees and 750 stores. PPG is being sold to American Industrial Partners, a NY-based private equity investment firm.

According to the company, the transaction is expected to be completed by the end of the year or early 2025. PPG stated that its goal is to scale back and to "eliminate $175 million a year from its costs".