Lanxess to cut 1,000 jobs by 2016

London – German chemical giant Lanxess has confirmed to ERJ that it plans to cut 1,000 jobs by the end of 2015.

The job cuts, along with a reduction in management bonuses, were in response to a “weakness in demand” for synthetic rubber from the automotive industry, the Cologne-based company said.

“Currently, it is foremost the synthetic rubber activities that are experiencing a temporary weakness in demand, increased competition in the market and volatile raw materials prices,” the Financial Times quoted Lanxess as saying.

Lanxess announced in August that it…

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