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.
German chemical company BASF has announced that it will cut 2,000 jobs worldwide by the end of 2022, including 600 positions in Germany.
The restructuring programme will start in March 2021 and will affect jobs in the Global Business Services division. A large part of the activities from Germany will be offshored to the BASF service centres in Berlin (Germany), Kuala Lumpur (Malaysia), and Montevideo (Uruguay). The division was founded in 2020 and provides services for BASF’s business units, ranging from financial and logistical processes to services in the areas of communication, human resources, environment, health and safety. The programme is expected to save more than €200 million per annum beginning fiscal 2023.
The group employs more than 117,000 people worldwide, including 8,400 in the business services centres.
Previous restructuring programme was announced in June 2019 (6,000 jobs cut worldwide).
Eurofound (2021), BASF, Internal restructuring in World, factsheet number 103482, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103482.