EMCC European Monitoring Centre on Change

Brenntag

Company/Organisation:
Brenntag

Geographic Location

Country: World
Location of affected unit(s): Germany

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
46.75 - Wholesale of chemical products
Number Employed: 17500

Employment Effects

Announcement Date: 27-10-2020
Planned Job Reductions min: 1300
Type of Restructuring: Internal restructuring
Employment Effect Start: 27-10-2020
Foreseen End Date: 01-01-2023

Additional Information

German chemicals distributor Brenntag announced that it will cut around 1,300 jobs worldwide, including 200 positions in Germany, by the beginning of 2023. Additionally, the supplier is to close 100 sites across all its regions, half of which are third-party logistics sites.

Under savings programme ‘Project Brenntag’, the company expects an annual contribution of additional operating EBITDA of  €220 million ($260 million) in total by the beginning of 2023. The implementation of the various measures of ‘Project Brenntag’ will also include job cuts. The company plans to use natural fluctuation, mutually agreed separation and regular and early retirement schemes and carried out it in a socially responsible manner (the conditions of the programme will be negotiated with employees’ representitives within the next months according to local regulations).

Brenntag operates a global network with more than 640 locations in 77 countries. The company employs more than 17,500 people worldwide.

Sources: