Lanxess – To cut up to 1,200 jobs

German chemicals maker Lanxess may slash up to 1,200 jobs, or about 7 percent of its total workforce, as part of a group-wide overhaul to counter overcapacity in the synthetic rubber industry, German daily Rheinische Post reported.

The world’s largest maker of synthetic rubber plans to offer voluntary redundancy packages and early retirement schemes but will not rule out forced redundancies, the newspaper cited company sources as saying on Friday.

Chosen excerpts by Job Market Monitor. Read the whole story at Lanxess to cut up to 1,200 jobs: Germany’s Rheinische Post | Reuters.