Location: Germany.
Based on news reporting.
BASF has announced significant job cuts affecting approximately 2,000 employees as part of its strategy to address ongoing margin pressures. The company is facing challenges in the current market environment, prompting these layoffs to streamline operations and reduce costs. The job cuts are part of a broader restructuring effort aimed at improving profitability. The layoffs are set to take effect in early October 2023, impacting various departments across the company. This decision reflects BASF's response to declining demand and rising costs in the chemical industry, as it seeks to stabilize its financial performance.
BASF cut 2,000 jobs as of October 1, 2023.
That is roughly 1.8% of the 111,000 people BASF employs.
LayoffTalk has tracked 8 layoff events at BASF since October 2023, affecting a combined 3,032 employees.
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