Cemex is the world’s third biggest cement maker operating in 50 countries from its headquarters in Mexico.
Reuters reported the cement maker said it hopes to generate £250m in additional cash flow by the end of 2012 through cutting costs and improving underperforming businesses.
The company employs about 46,500 people across the globe and is seeking cost savings of about £160m this year.
Cemex has been struggling with its debt load after buying Australian rival Rinker just before the US housing crisis began.
The company reported a wider-than-expected first-quarter loss, but said sales rose in a sign it is slowly recovering from the worst crisis in its century-long history.