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Lanxess Reduces Working Hours and Salaries to Save Costs

9:30 AM MST | January 30, 2009 | Natasha Alperowicz

Lanxess says it has put together a package of measures to reduce costs. "We are in the midst of a global recession," says chairman Axel C. Heitmann. Customer demand, especially in the automobile and construction industries, remained weak in January and the company does not expect the economic environment to improve radically in the foreseeable future, he says. Lanxess has, following consultations with the German Mining, Chemical, and Energy Industry Union, agreed to introduce a 35-hour working week with a corresponding remuneration decrease as...

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