BASF looking to cut 500 jobs by 2016

PLASTICS & RUBBER WEEKLY

Published: April 23, 2013 11:40 am ET
Updated: April 23, 2013 11:41 am ET

Related to this story

Companies & Associations BASF SE

LUDWIGSHAFEN, GERMANY — Chemicals giant BASF SE plans to shed up to 500 jobs worldwide by the end of 2015 as it seeks to respond to the economic downturn.

The Germany-headquartered group said the majority of the job losses would take place in Switzerland as it sought to make its Performance Products division — which includes plastic additives, pigments and resins, water, leather and textiles — more competitive.

BASF said its plastic additives business would see the introduction of a "more market-oriented approach."

Focusing on a network of what it called global competence centers, BASF said its research office in Basel, Switzerland, would be scaled back, and there would also be less need for the administrative services provided by its business center, located in the same city.

This restructuring would result in up to 350 positions being lost in the Basel area, the group said, with alternative positions being found for as many of those affected as possible.

Remaining job cuts would occur in BASF's pigments and resins business, which would also see synergies created by "bundling expertise and competencies" across the operation.

Michael Heinz, a member of BASF's executive board and responsible for its Performance Products segment, said: "The expansion of our specialty business in the Performance Products segment made us more robust to economic fluctuations.

"However, the growth and profitability of the standard products do not yet meet our requirements. We have therefore identified numerous measures which we are implementing step by step."

Further measures were being analyzed, he said, although no details were given.


Comments

BASF looking to cut 500 jobs by 2016

PLASTICS & RUBBER WEEKLY

Published: April 23, 2013 11:40 am ET
Updated: April 23, 2013 11:41 am ET

Post Your Comments


Back to story


More stories

Image

BASF posts growth in second quarter

July 24, 2014 11:08 am ET

German chemical giant, BASF SE, has announced a 1 percent growth in sales for the second quarter of 2014 compared to the same period in...    More

Image

This is one bump that looks good on a car

July 18, 2014 1:34 pm ET

PSA Peugeot Citroen Group is using plastic for both design and protection on the exterior of one of its newest cars.    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events