Lanxess Will Cut About 1,000 Jobs

The German chemical maker Lanxess is implementing a restructuring begun under new chairman Matthias Zachert. The company says it will eliminate about 1,000 positions worldwide by the end of 2016, roughly half of which will be in Germany. The cuts will be in R&D, marketing and sales, and administration. Lanxess, which has about 16,000 employees, says the job cuts are part of the first phase of a three-phase restructuring. In the second phase, the firm will improve production processes and facilities. The third phase will focus on the competitiveness of Lanxess’s rubber business.