BASF Safeguards Jobs at 36,000-Employee HQ as Workforce Ages
- Chemical-maker to invest $6.8 billion in Ludwigshafen by 2020
- Number of retirees will increase `sharply' from 2018
BASF
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BASF SE pledged not to impose any redundancies at its 36,000-employee manufacturing base in Ludwigshafen, Germany for the next five years as it expects the number of retirements to increase.
Europe’s largest chemical company will meanwhile invest 6 billion euros ($6.8 billion) on upgrading and maintaining its series of interconnected factories within the complex, BASF said on Wednesday. From 2018, more than 1,000 employees in Ludwigshafen will retire each year, and by 2020 more than half of the workforce there will be 50 or older.