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LNZ - Lenzing AG News Story

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Basic Materials
Mid Cap
Market Cap £1.10bn
Enterprise Value £1.89bn
Revenue £1.68bn
Position in Universe 341st / 1041

Lenzing to cut 250 jobs, mainly in Austria

Fri 28th November, 2014 7:31am
VIENNA, Nov 28 (Reuters) - Viscose fibre maker Lenzing 
 LENV.VI  will cut up to 250 jobs, mainly at its Lenzing site in 
Austria, as it cuts costs due to low fibre prices, the company, 
which has been expanding its savings programme, said on Friday.  
    Lenzing has said it was planning to cut 600 full-time 
equivalent jobs globally in 2014 and 2015.  ID:nL6N0T317S  
    "Lenzing will try to avoid layoffs and strive to reach a 
mutually acceptable solution with the affected employees as it 
succeeded in doing (in the past)," it said in a statement. 
 (Reporting By Shadia Nasralla, editing by William Hardy) 
 ((Shadia.Nasralla@thomsonreuters.com; +43 664 390 6505; Reuters 
Messaging: shadia.nasralla.thomsonreuters@reuters.net)) 
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