Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
German-based company BASF, the world's largest chemicals group, has revealed that it will cut 3,000 jobs at its headquarters in Ludwigshafen by the end of 2007. Management signed an agreement
regarding the job cuts with employee representatives. The group has, however, committed itself not to announce any redundancies until at least 2010. BASF is determined to achieve the
planned workforce reduction merely via natural fluctuation. The planned job cuts are part of major cost reduction efforts at BASF, which aims
to reduce overall costs at the headquarters by 450m euros by mid-2005.
Eurofound (2004), BASF, Internal restructuring in Germany, factsheet number 60959, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60959.