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 12 January 2021, the German chemicals company BASF will be closing its plant in Leuna until 30 April 2022 which will result in the loss of 100 employees. BASF intends to focus its European network of ultramid-compounding at three plants in Germany – excluding Leuna. There is no information available on whether this step is related to the effects of the COVID-19 crisis. Management announced that they will start negotiations with the works’ council regarding a social plan shortly in order to reduce the economic disadvantage of the employees.
In 2019, BASF announced job cuts due to internal restructuring in Ludwigshafen (3000 jobs) and in Münster (200 jobs).
Eurofound (2021), BASF, Closure in Germany, factsheet number 103012, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103012.