German chemical giant BASF plans to lay off 2,600 employees worldwide
German chemical giant BASF Group (BASF) 24 said that in view of last year's sharp decline in earnings and the heavy burden of the energy crisis, the company plans to lay off 2,600 employees worldwide, of which 65% of the layoffs in Germany.
Last year, due to high energy costs and the economic slowdown in Europe, BASF announced a cost-cutting plan with the goal of cutting costs outside of production by 500 million euros per year from 2024, half of which will be accomplished at its Ludwigshafen headquarters, Hong Kong's China News Agency reported.
BASF said the company will close several energy-intensive production facilities in Ludwigshafen, including an ammonia plant and related fertilizer facilities, which will cut about 700 production jobs in Ludwigshafen.
BASF Executive Board Chairman Martin Brudermiller said in a statement that day that multiple factors have been slowing growth in the European market for years. In addition, high energy prices are a drag on European profitability and competitiveness.
It is reported that the restructuring of Ludwigshafen is expected to cut fixed costs for the company by more than 200 million euros per year, starting at the end of 2026. In addition to the cost-cutting program, BASF plans to take structural measures to better equip the main Ludwigshafen plant to cope with increasing long-term competition.
BASF is a large international chemical company that produces a wide range of products in 39 countries and does business with customers in more than 170 countries. BASF has an annual turnover of approximately $72.6 billion and currently employs more than 122,000 people.
(The professional manufacturer of defoamer. Fast defoaming, long-lasting foam inhibition,
and high stabilityFree samples available!
whatsapp +8615714017827）
