Germany’s chemical industry to cut jobs next year – survey

27 November 2009 16:41  [Source: ICIS news]

TORONTO (ICIS news)--Germany’s chemical producers are expected to cut jobs next year as the industry has not yet overcome the financial and economic crisis, according to a survey on Friday.

The survey found that only 5% of chemical firms had plans to hire staff, while 54% were looking at cutting jobs. The remaining firms anticipated they would be able to maintain staff at current levels.

The survey, which covered firms accounting for about 95% of the industry's overall employment of around 433,000, was conducted by VAA, a group representing managers and executives in Germany's chemical industry.

Overall, VAA projected that the industry would shed some 6,200 jobs in 2010.

Germany’s chemical industry has so far largely avoided job cuts as employers have used government-subsidised short time work and other labour market instruments to maintain employment during the crisis.

Meanwhile, globally chemical companies have cut over 83,000 jobs to date since the global financial crisis tore through the markets in September last year, according to company announcements reported on ICIS news.

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By: Stefan Baumgarten
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