Covestro is cutting about 900 jobs, more than 5% its total, worldwide as part of a program to slash $400 million in costs by 2021. The company says many of the jobs will be administrative and it has already consulted with the German Works Council. Separately, Covestro will spend $340 million on new aniline capacity in Belgium. Aniline is a precursor to methylene diphenyl diisocyanate (MDI), a polyurethane raw material. The German firm has been investing aggressively in MDI and recently announced a $1.7 billion MDI project in Baytown, Texas.