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 22 January 2021, the German chemical company BASF will be cutting 600 jobs at its site in Ludwigshafen until the end 2022 due to offshoring and relocation. In the future, the company plans to locate its service sector activities at company's sites in Berlin, Kuala Lumpur and Montevideo. The reduction is part of a worldwide restructuring in the company’s Global Business Service unit affecting approximately 2,000 employees. The restructuring will help BASF to save up to €200 million annually. Since compulsory redundancies are excluded by a company agreement until 2025, BASF will achieve its goal via natural fluctuation and cancellation agreements. The unit was only created at the beginning of 2020 and includes 8,400 employees.
Previous job reductions were announced in June 2019 (Münster, 200 jobs and Ludwigshafen, 3000 jobs) and in January 2021 (Leuna, 100 jobs).
Eurofound (2021), BASF, Offshoring/Delocalisation in Germany, factsheet number 103490, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103490.
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