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 study shows rapid payback for EPS residential insulation

November 12, 2014 8:53 am ET

There have been positive long-term economic and environmental benefits from an energy modernization project in houses at BASF SE's home base in...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events