News from Notch Consulting, Inc.

February 3, 2009

Responding to Downturn, Lanxess Shortens Work Hours, Cuts Salaries

Filed under: General, Rubber Chemicals — Notch @ 4:36 pm

Lanxess AG (Leverkusen, Germany) has announced a series of measures to deal with the global recession. Called “Challenge ’09,” the program includes the “introduction of a 35-hour working week with a corresponding remuneration decrease as of March 2009 for initially 12 months” and the elimination of bonuses for 2009. Lanxess agreed on the measures — which cover about 5,000 German non-managerial employees — after holding negotiations with employee representatives and the IG BCE (the German Mining, Chemical and Energy Industry Union). On the management side, Lanxess announced that the company’s managerial employees as well as its Board of Management would see a salary reduction of 10% of fixed salary, while fixed salary reviews for 2009 will be postponed by at least six months.

Here is the press release.

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: