PPG Industries has announced plans to lay off 1,800 employees across the U.S. and Europe as part of a comprehensive cost-reduction program. The company will also close several facilities and expects to save $175 million annually through these measures. Additionally, PPG has reached an agreement to sell its architectural coatings business in the U.S. and Canada to American Industrial Partners. In its third-quarter 2024 financial results, PPG reported record earnings per diluted share (EPS) of $2.00 and adjusted EPS of $2.13, with net sales of $4.6 billion. Despite these earnings, the company's revenue of $4.58 billion missed estimates by $75 million. Organic sales were flat versus the prior year, and segment margins improved 60 basis points year over year, marking eight consecutive quarters of margin improvement.