According to reports, PPG Industries plans to cut approximately 2000 jobs, mainly in its European coatings operations.

The paints, chemicals and glassmaker said it expects to report an after-tax charge of approximately $164 million in the first quarter related to a business restructuring that will primarily affect employees in PPG’s global architectural coatings units and other business and administrative functions in Europe.

The job reductions represent a little more than 5% of PPG’s global workforce of more than 38,000.

In a statement, PPG Chairman Charles Bunch said while business was strong in North America and Asia during the first quarter, demand for coatings in Europe “was muted, and we expect economic recovery to occur slowly in that region.”