Lanxess finalises counter-crisis measures
02/02/2009
Lanxess AG has put together a global package of measures named known as Challenge 09” in order to address the effects of weak demand and strengthen the specialty chemicals group’s position. This package includes a number of technical process improvements as well as measures affecting personnel.
New regulations for its approximately 5,000 German non-managerial employees in 2009 will include: the introduction of a 35-hour working week with a corresponding remuneration decrease as of March 2009 for initially 12 months and no bonus for the business year 2009.New regulations for its board of management include a reduction in variable salary amounting to 10% of fixed salary, while managerial employees’ variable salaries will be adjusted and their annual fixed salary reviews for 2009 will be postponed by at least six months.
If economic conditions worsen in the coming months, senior management and employee representatives will meet on a regular basis to discuss further measures.
Salary reviews worldwide will also be postponed by at least six months and, in some countries, salary increases will be postponed by 12 months. Measures to reduce personnel costs will also be agreed discussed.
Chairman of the board of management, Axel Heitmann, said: “Lanxess has the expertise to cope with difficult economic conditions. We have already demonstrated our competence in the recent past with the realignment of our company. I am impressed by the commitment and the flexibility of our employees worldwide.” He added: “We will continue to increase efficiency and focus on innovative technologies as well as products for our customers. Therefore, I believe Lanxess can emerge strengthened from the crisis.”
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