LEVERKUSEN, Germany (Jan. 26, 2009)—Bayer MaterialScience is looking at a range of options to cut costs in its business, including a 10 percent pay cut for the same hours worked for production workers in Germany.
A spokesman for the raw materials supplier confirmed that this was one of the options Bayer MaterialScience is looking at.
The pay reduction “is one option to tackle the situation, but it is only one of several potential measures,” the spokesman said.
These options are to be discussed by Bayer MaterialScience management and the trade unions soon, and no decision has been reached yet, he added.
In early December, Peter Vanacker, head of the polyurethanes business unit at Bayer MaterialScience, said the business had taken “immediate measures,” in response to, “a significant drop in demand, particularly in the automotive and construction sectors ... [which] clearly has an impact on our industry.”
Bayer MaterialScience had reduced capacity utilization and introduced a strict cost management program, Vanacker added.