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

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

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

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

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

More Events