The German chemical giant BASF is going to reorganize considerably. Over the next two years, 6,000 jobs will be cut at the group. With this, the company wants to save costs and increase the result. BASF is struggling with a subdued demand for chemicals by customers from the automotive and electronics sectors.

122,000 people work at BASF. By cutting the workforce, 300 million euros must be saved annually. This includes administrative and support staff. Jobs are disappearing worldwide and the German group expects to complete the planned reductions before the end of 2021. BASF expects to hire people for industrial and digital jobs.

BASF is also going to organize the organization in a different way. In this way there will be more direct cooperation with customers, instead of “simple delivery of barrels with basic chemicals”. BASF therefore expects to increase margins in the end.

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