Lanxess, Germany's fourth biggest chemical maker, is to reduce a total of 960 jobs within three years at its styrenic resins and fine chemicals business units. It is doing so as an attempt to remain competitive in the face of income losses.
Lanxess will be cutting down about 200 jobs this year and about 400 each , over the next two years following negotiations with the representatives of the employees. It will reduce employment through a combination of natural wastage, retirements, part-time working arrangements for older employees and active outplacement assistance. The company is likely to offer financial incentives to employees who are prepared to leave the company voluntarily and has agreed to review the number of job cuts at six-month intervals.
06-Jun-05 
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