SGL to cut 300 jobs

Germany-based carbon maker SGL Group, also known as The Carbon Company, is reducing 300 jobs as part of its organisational restructuring, which is one part of the SGL2015 cost savings programme.

The restructuring focuses on strengthening the business units by streamlining the management structures and the corporate and support functions. The planned restructuring will affect up to 300 positions group-wide, with approximately half of them in Germany. Another 37 jobs will be reduced in North America and 16 in Asia.

Also part of the programme, indirect spending in the fields of operating expenses will be reduced by one third, from EUR90 million in 2012 to EUR60 million in 2015. Overall, the SGL2015 cost savings programme is designed to achieve a total of EUR150 million cost savings by the end of 2015, with EUR50 million already realised in 2013.

"With this set of comprehensive measures we will make SGL Group more efficient and stronger, and strategically position the company for the future, " said Jurgen Kohler, designated CEO, SGL Group.

The company says it is addressing the challenging economic environment, which is characterised „in particular by an unsatisfactory price development in graphite electrodes, a cyclical and structural downturn in graphite specialities and losses caused by delays in the development and start-up phases in the Business Area Carbon Fibers & Composites.“ It also said that the objective of the programme is to sustainably strengthen SGL Group’s competitiveness while enhancing the profitability of the group.


Home | Terms & Conditions | Privacy Policy | Contact | Webmail | Site Map

Copyright (c) 2014 All rights reserved.