Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
As announced on 24. February 2023, the multinational chemical company BASF, will be cutting approximately 2,500 jobs in Germany until 2024 as part of a global restructuring plan. As a consequence of exploding energy prices in 2022, BASF will be implementing a worldwide restructuring programme with the intention of saving €500 million in costs starting in 2024. The programme includes the reduction of 2600 jobs worldwide – mainly in the service, administration and research sector of the company. Of those job approximately 1800 are attributed to Germany - Ludwigshafen. Additionally BASF will be cutting 700 jobs at its production at Ludwigshafen.
Due to company agreement, there will not be any redundancies until the end of 2025. Therefore, the job reduction will mainly be achieved by voluntary programmes and placements at other sites or firms.
The announced global restruturing plan for BASF in 2023 has been recorded in the ERM database (BASF-2023-WO).
Eurofound (2023), BASF, Internal restructuring in Germany, factsheet number 108584, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108584.
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