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.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22 - Manufacture of rubber and plastic products
400 - 500 jobs Number of planned job losses
Announcement Date
6 November 2007
Employment effect (start)
6 November 2007
Foreseen end date
31 December 2009
Description
Bayer, the German multi-national chemical group, has announced that it is to cut 400 to 500 jobs in Germany at its subsidiary Bayer Material Science. As of November 2007, it is unclear what units and locations the job cuts will affect. Bayer Material Sciences produces polymers and high-performance plastics. The job losses will be implemented by the end of 2009, and the firm has stated that it expects to save 300 million EUR through the cuts. Bayer Material Science employs approximately 7,000 in Germany.
Sources
7 November 2007: Handelsblatt
Citation
Eurofound (2007), Bayer Material Science, Internal restructuring in Germany, factsheet number 66002, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66002.
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