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

Search for 'superpolymer' led to nylon 75 years ago

August 8, 2014 11:10 am ET

The quest for synthetic silk led to the creation of nylon, the versatile engineering resin that's celebrating its 75th birthday this year.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

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

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