Baywa to Cut 1,300 Jobs and Sell Assets in Debt Restructuring Plan

The German agribusiness giant aims to reduce its workforce and international footprint to address billions in debt from past expansion.

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.