Lanxess Finalizes 'Challenge 09' Package To Counter Effects of Worldwide Crisis

摘要

Leverkusen— Lanxess AG said it has come up with a package of measures named "Challenge 09," to "mitigate the effects of weak demand worldwide" and strengthen the company's position. Lanxess held negotiations with employee representatives and the German Mining, Chemical and Energy Industry Union and has agreed on the following measures, conditional upon approval from the respective parties involved—a 35-hour working week with a corresponding reduction in pay as of March 2009, as well as no bonuses for the 2009 business year. These measures will affect about 5,000 German non-managerial employees.