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 18 September 2013, German chemical company Bayer will cut 180 jobs in Germany in its Material Science section. This is due to weak turnover induced by market overcapacities.
Additionally, Bayer Material Science suffers from high commodity and energy costs. In total, Bayer Materia lScience employs 5,200 people in Germany, most of them in Leverkusen (North Rhine-Westphalia). Worldwide, the company aims to cut 700 out of 14,500 jobs in the section.
Work agreements rule out forced redundancies until the end of 2015. The job cuts shall be realised within four years. The company is negotiating with worker representatives concerning the exact organisation of the job cuts.
For previous restructuring cases concerning Bayer Material Science see Bayer Material Science 2007.
Eurofound (2013), Bayer Material Science, Internal restructuring in Germany, factsheet number 75948, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75948.