The German chemical concern BASF (BASF) has announced plans for layoffs in its administrative departments, which will be moved to Asia to reduce costs, AFP reported, BTA wrote.
Now the chemical concern is also planning layoffs in its administrative departments, united in the division “Global Business Services“, which has about 8,500 people worldwide out of a total of nearly 110,000 employees. To achieve these goals, the group will "further optimize its services in the areas of IT, finance and human resources," BASF Chief Financial Officer Dirk Elvermann explained at a press conference on the group's 2025 results, which showed a significant decline in operating results.
A large part of the support functions will be transferred to two centers in Asia at the expense of the Berlin site. A new center will be established in the Indian city of Hyderabad for finance and human resources, while the existing one in Kuala Lumpur, Malaysia, will specialize in supply chain management. Elvermann confirmed that this would happen “with significant staff reductions“, without giving specific figures.
The chemical concern, which has already divested itself of activities that are not core to its core production and even cut jobs at its main plant in Ludwigshafen.
BASF is a supplier of chemical products to the automotive, agricultural and construction industries. However, the concern is reporting a decline in global demand for chemicals.
This is forcing the company to implement additional cost-cutting measures.