Lanxess

Type
Internal restructuring
Country
Germany
Region
Nordrhein-Westfalen; Köln; Leverkusen, Kreisfreie Stadt
Location of affected unit(s)
Leverkusen
Sector
Manufacturing
(20 - 21) Manufacture of chemicals and pharmaceuticals
20 - Manufacture of chemicals and chemical products
20 - Manufacture of chemicals and chemical products
960 jobs
Number of planned job losses
Job loss
Announcement Date
2 June 2005
Employment effect (start)
1 July 2005
Foreseen end date
31 December 2007

Description

After originally announcing that 1,200 jobs were in danger, Lanxess has now scaled back the number of jobs to be shed to 960. About 500 jobs will be lost at the operations in Leverkusen. There shall be no direct dismissals. With this measure, Lanxess expects yearly savings of €100 million from 2008.

Sources

  • 9 June 2005: Financial Times Deutschland
  • 3 June 2005: Financial Times Deutschland

Citation

Eurofound (2005), Lanxess, Internal restructuring in Germany, factsheet number 61738, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61738.