Condoms and protective gloves maker Ansell is launching a major cost cutting program as it faces global economic uncertainty.
The changes include the closure of a small number of under-used offices and warehouses, and the transfer of some finance and supply chain staff to shared service centres in lower cost locations.
Ansell said there will be a small number of redundancies, mainly in Europe and North America.
"The benefit of these actions will assist in partially offsetting adverse currency movements and the effect of continued uncertain economic conditions in some developed and emerging markets," Ansell said.
The company expects the changes will come at a one-off cost of about $17 million, and generate annual savings of $15 million from the 2016/17 year, and about half that in 2015/16.
Chief executive Magnus Nicolin said in February that the company had experienced demand declines in continental western Europe, Brazil and Russia.
Although economic conditions were improving in the US, demand remained weak in Europe and Brazil, Russia was in economic turmoil, and economies in the Middle East and Africa were uncertain, he said.
In Russia, a big market for Ansell, the crash in the value of the Russian rouble had increased the cost of Ansell's products, driving customers to cheaper suppliers.
Analysts at Morgan Stanley recently noted that the weaker euro and Asian currencies were also big headwinds.
Ansell shares dropped 49 cents, or two per cent, to $23.76, amid a 2.2 per cent fall on the wider market.
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