LEVERKUSEN, Germany (Oct. 14) — Lanxess GmbH and workers at its nitrile rubber plant in La Wantzenau, France, have agreed to a series of restructuring measures that will reduce costs at the unit by $13.2 million a year while eliminating 83 jobs.
"Management has put a package of measures on the table that is acceptable to all sides," said Lanxess CEO Axel C. Heitmann. "Therefore, we can sustainably lower our annual cost base and at the same time safeguard as many jobs as possible at the La Wantzenau site."
The unit will achieve the savings through process optimization and a new wage/benefits pact with all unions concerned, Lanxess said. The number of job cuts is down from 100 envisioned initially, the firm said, and the cost-saving package is still subject to a number of formalities under French law.
Lanxess employs about 400 at the La Wantzenau site.