BASF announces further job cuts in Ludwigshafen. Sales and profits collapsed in 2023 due to weak demand, especially in Europe.
Savings of one billion euros are now intended to make the LudwigshAFen location competitive again, at the expense of the employees. The measures also include the reduction of jobs and the closure of several chemical plants. The weakness of the global economic dynamic from 2023 is likely to continue in 2024, the DAX group also announced. Global chemical production is expected to increase by 2.7 percent.