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.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
3,700 jobs Number of planned job losses
Announcement Date
6 July 2009
Employment effect (start)
6 July 2009
Foreseen end date
31 December 2013
Description
After the merger of the Swiss chemical producer Ciba and the German chemical company BASF, BASF announced a cut of 3,700 jobs worldwide by 2013. The merger is followed by extensive internal restructuring of which job cuts are a part. Around 500 jobs are affected at BASF; the rest concerns former Ciba-staff.
Given the current restructuring, most of the job cuts are to be realised by the end of 2010. The remaining jobs are to be reduced by 2013. Whilst Ciba employs at the moment 12,500 staff worldwide, the BASF group employed nearly 97,000 employees at the end of 2008. BASF seeks to undertake the downsizing in a socially acceptable manner.
Sources
7 July 2009: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2009), BASF/Ciba, Merger/Acquisition in World, factsheet number 69269, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69269.
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