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.
The chemical producer BASF announced on 13 June 2019 the loss of 200 jobs in its Coating’s division in Münster until 2021 due to internal restructuring. The reduction is part of a larger savings programme announced in November 2018, with the intention to increase the operative profit by €2 billion in 2021. Cuts will be done via natural fluctuation and a voluntary severance programme.
Currently, BASF has 2,400 employees in Münster.
The company has also announced, at the end of June, 3,000 jobs cut at its German headquarter and further 3,000 at world level.
Eurofound (2019), BASF, Internal restructuring in Germany, factsheet number 98158, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98158.