Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 17 October 2023, the German specialty chemicals company Lanxess will be cutting 870 jobs worldwide, out of which 460 jobs will be lost in Germany due to internal restructuring.
The background of the restructuring plan is the goal of Lanxess to become more efficient and save costs of about €150 million annually. The type of jobs to be cut are especially those in the administration of Lanxess. There is no timetable on the job reductions available, however, Lanxess intends to implement its restructuring plan as quick as possible.
Lanxess’ facilities at Cologne, Leverkusen, Uerdingen and Mannheim are set to be especially affected by the restructuring plan.Currently, there is no further information available on which other locations in other countries are affected by the restructuring plan. The restructuring plan in Germany has been recorded in the ERM events database Lanxess-2023-DE.
Eurofound (2023), Lanxess, Internal restructuring in World, factsheet number 200553, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200553.