ARNHEM, The Netherlands - Akzo Nobel Car Refinishes announced plans for a "major restructuring" to be carried out over the next two years, a program that the company said will result in the reduction of approximately 600 employment positions, or 10% of the business's global work force.

The company provided no further details except to say that the program will affect the business's operations in "most regions of the world."

Akzo Nobel said the restructuring moves are designed to improve the Car Refinishes business's financial performance, with a focus on "realigning the business with changing market conditions."