The leading German chemical company BASF has cut around 7,000 employees worldwide since the beginning of the year (6.5% of the total workforce). The number of employees at the central production center in Ludwigshafen (Rhineland-Palatinate) fell below 30,000 for the first time since 1954.
„We have accelerated the pace of rationalizing our organizational structure and improving its efficiency. "In the first half of the year, we cut more positions than in the previous two years combined," BASF CEO Markus Kamit said in a statement.
Speaking of the job cuts in Ludwigshafen, Kamit stressed that this was an "important and necessary step for the competitiveness of the plant." The manager added that the measures taken had reduced costs and increased the utilization of existing production capacities.
In the second quarter of 2026, the group's revenue amounted to 17.2 billion euros, which is 2.4 billion euros more than in the same period of the previous year. Earnings before interest and taxes increased by approximately 50% year-on-year, reaching 2.4 billion euros. The group attributes this positive trend to increased sales volumes and higher prices for its end products.