Bayer MaterialScience AG of Leverkusen, Germany, says it will end a reduced work schedule at its German sites on November 1, putting some 4,100 workers back on full salary.
Earlier this year, the Bayer AG unit had implemented shorter working hours to combat the effects of the financial crisis. More than 4,000 employees consequently had their pay reduced by 6.7 percent.
Thomas de Win, chairman of Bayer’s central works council, said the firm is putting workers back on full-time hours because of an improvement in orders.
However, he added: “The future business development of our customer industries still remains uncertain.”
In August, Bayer MaterialScience announced second-quarter profits that were much weaker than the corresponding quarter in 2008.
Sales dropped 36.4 percent to €1.8 billion ($2.68 billion), as demand for polyurethanes and polycarbonates fell. Polycarbonates demonstrated the biggest drop—34.8 percent—while sales from industrial operations were the least affected, falling 13.6 percent.
All regions experienced a loss in sales, although Europe was the most negatively affected (-38.9 percent), followed by Latin America, Africa and the Middle East (-30.8 percent), North America (-29.5 percent) and Asia Pacific (-23 percent).
Filed by European Plastics News, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.
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