Overview

• Baywa, Germany's largest agribusiness company, will cut 1,300 jobs, focusing primarily on its central administration, which will lose 40% of its positions.
• The company plans to close 26 of its 400 locations and sell key international subsidiaries to streamline operations and reduce debt.
• The restructuring follows years of rapid, credit-fueled expansion under former CEO Klaus Josef Lutz, which left the company with over €5 billion in debt.
• Rising interest rates and a weak global economy have significantly increased Baywa's financial strain, leading to a €640 million net loss in the first nine months of 2024.
• The company expects to finalize agreements with its works council by March 2025 and aims to complete its restructuring program by the end of 2027.