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BASF streamlines with 6'000 job losses
With an organisational realignment, BASF expects savings of EUR 300 million, as part of the ongoing excellence program, which is anticipated to contribute EUR 2 billion to earnings annually from the end of 2021 onwards.
In the course of the strategy implementation, BASF expects a reduction of a total of around 6,000 positions worldwide until the end of 2021. This decrease results from "the organisational simplification and from efficiency gains in administration and services as well as in the operating divisions", a press release states. BASF will continue to need additional employees in fields like production or digitalisation, depending on future growth rates.
“We will set up the new organisation with a clear focus on leveraging synergies, reducing interfaces and enabling flexibility and creativity,” said Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF. “We want our customers to experience a new BASF. To achieve this, we have to live a new BASF. We will therefore continue to develop our organisation to work more effectively and efficiently. In this way, we will ensure the success of our customers, strengthen our competitiveness, and grow profitably as a company.”
Ludwigshafen: Early negotiations for new site agreement
In view of the current changes and further changes planned until the end of 2021, management and employee representatives have jointly decided to move forward the start of negotiations on a new site agreement for the BASF SE. The current site agreement is valid until the end of December 2020. The goal is to sign a new agreement in the first half of 2020.
