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.
On 5 September 2006, BASF, one of the leading global producers of chemical products, previously announced its plans to cut 200 jobs at its production site in Minden. In the meanwhile, some 130 employees have been laid off and further 60 positions may be at risk due to considerations of the management to source out parts of the service department. There are currently 520 persons employed in Minden who produce caffeine for the manufacturing of beverages and active ingredients used in the pharmaceutical industry. BASF decided to reduce its workforce in Minden due to the keen competition with other Asian manufacturers of chemical products.
Eurofound (2006), BASF, Internal restructuring in Germany, factsheet number 64073, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64073.