Lanxess cut 1,000 jobs worldwide by end 2016

Lanxess to cut 1,000 jobs worldwide by end of 2016

11:45 AM, 7th November 2014
Lanxess to cut 1,000 jobs worldwide by end of 2016

COLOGNE, GERMANY: The specialty chemicals company Lanxess is making rapid progress with its three-phase realignment programme. With the implementation of the first phase, aimed at improving the competitiveness of the business and administrative structure, the Group plans to make total annual savings of €150 million as of the end of 2016. Lanxess already expects savings of about €20 million in the current year.

The first phase of the realignment will result in a reduction of total headcount by about 1,000 positions worldwide by the end of 2016 – roughly half of which will be in Germany. The affected jobs will be mainly in the administrative and service units, marketing and sales, as well as in research and development. The headcount reduction will result in exceptional charges of €150 million being incurred through the end of 2016 – including around €100 million already in 2014.

At the beginning of November 2014, Lanxess initiated the second phase of the realignment program, which is aimed at increasing its operational competitiveness. This phase focuses on the optimization of sales and supply chains and of production processes and facilities. The relevant measures will be implemented in 2015 and 2016.

The third phase of the program, which is aimed at improving the competitiveness of the business portfolio, will focus on horizontal and vertical cooperations in the rubber business. This phase is also to be implemented in 2015 and 2016.

“The realignment lays the foundation for Lanxess to return to sustainable growth in the mid-term. Downsizing the workforce is a necessary measure to improve our competitiveness,” said Matthias Zachert, Chairman of the Board of Management, Lanxess AG.

Related News - Lanxess to increase iron oxide pigments capacity in China

 

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Scientists develop first room-temperature fuel cell

UTAH, US: University of Utah engineers developed the first room-temperature fuel cell that uses enzymes to help jet fuel produce electricity without n ...

Read more
Albemarle to increase curatives products capacity in Pasadena, US

BATON ROUGE, US: Albemarle Corporation, a global developer, manufacturer and marketer of highly engineered specialty chemicals and services, plans to ...

Read more
Solazyme, Versalis to expand JV for algae-based drilling fluid additive

SOUTH SAN FRANCISCO, US: Solazyme, Inc, a renewable oil and bioproducts company, and Versalis, the chemical subsidiary of Eni S.p.A., one of the world ...

Read more
Chevron Phillips to expand polyalphaolefins capacity in Cedar Bayou, US

THE WOODLANDS, US: Chevron Phillips Chemical Company LP announced a study to expand its low viscosity polyalphaolefins (PAO) capacity by 10,000 metric ...

Read more
Rentech closes sale of alternative energy technologies

LOS ANGELES, US: Rentech, Inc has closed the previously announced sale of its alternative energy technologies to Sunshine Kaidi New Energy Group Co Lt ...

Read more
AkzoNobel starts operations at new powder coatings plant in Dubai

AMSTERDAM, THE NETHERLANDS: AkzoNobel has started operations at its new powder coatings plant in Dubai. The facility will significantly increase capac ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X