IHS Chemical Week

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Lenzing outlines cost-saving measures and job cuts

3:44 AM MST | December 17, 2013 | Natasha Alperowicz

The board of management of Lenzing and the Works Council have agreed a comprehensive package of social measures designed to cushion the effects of the recently announced cost reduction plan, Lenzing announced today. An agreement covering the company’s production sites at Lenzing and Heiligenkreuz has been signed. The company is putting a redundancy program into effect, and Lenzing’s existing Labor Foundation (Arbeitsstiftung) will be provided with sufficient funding to mitigate negative social consequences, the company says. The measures will come...

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