New company agreement: Covestro rules out redundancies until 2028

There will be no redundancies at the chemical company Covestro until the end of 2028. This is part of a works agreement that the Covestro Board of Management and the General Works Council have agreed on, as the company announced in Leverkusen on Friday. The “Rheinische Post” had previously reported on it.

The new general works agreement therefore includes a broad package of measures intended to secure employment at the German Covestro locations in the long term, as well as a clear commitment to the German locations, the corporate headquarters based in Leverkusen and investments in Germany.

Most recently, in the autumn of last year, reports about the possible loss of up to 1700 jobs, more than 900 of them in Germany, caused unrest in the company. However, it is now said that the number of jobs actually to be cut may be lower than originally projected.

“Important signal to employees”

According to the company, any staff reduction measures should be carried out in a socially responsible manner, voluntarily and by mutual agreement between the company and employees, for example through termination agreements or early retirement regulations. “The new agreement to secure the future is an important signal to employees that securing the future and efficiency are not mutually exclusive,” said Thomas Toepfer, member of the Covestro Board of Management and Labor Director. (dpa/mer)

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Lenny Li

I started to play with tech since middle school. Smart phones, laptops and gadgets are all about my life. Besides, I am also a big fan of Star War. May the force be with you!

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