BASF Antwerp to cut 600 jobs by 2028
On Wednesday, the chemicals group announced that it would be cutting around 600 jobs by the end of 2028.
The restructuring will affect almost one in five positions at the Antwerp site. BASF had previously stated its intention to reduce fixed costs by 100 million euros by 2028 (compared with 2024 levels), but this target has now been increased to 150 million euros.
"The current economic climate, as well as the lack of tangible impact from government measures to support industry, are forcing the company to intervene once again," BASF said in a statement.
Cut personnel expenses
As fixed costs largely consist of personnel expenses, the additional savings will inevitably lead to job losses, the company added. Around 600 positions are expected to disappear by late 2028.
BASF emphasised that no compulsory redundancies for economic reasons are planned, and that the company will focus on facilitating internal job transitions. The management team will also be streamlined, with one in three senior executive positions set to be cut.
A new uppercut for Flemish industry
Frank Beckx, CEO of employers’ organisation VOKA, described the news as a "new uppercut for Flemish industry" in an initial response to VRT NWS. "We must do everything possible to keep the crown jewels of Flemish industry here. Industry underpins our prosperity."
Flemish minister president Matthias Diependaele (N-VA) appeared on the VRT programme Villa Politica on Wednesday, describing the loss of 600 jobs as "dramatic". “We have known for some time that the industry is experiencing difficulties. Too many people assumed it was only a temporary downturn, but it is now clear that we are dealing with a structural problem," he said.
He stated that the Flemish government is supporting industry in areas such as permitting procedures and energy policy. “But the big question mark lies with Europe,” he added. According to Diependaele, the European Union must do more to strengthen the competitiveness of European industry.
Our entire Belgian and European industry is at a dangerous turning point
In an interview with Trends last year, CEO Jan Remeyen warned of potential job losses, as job creation in the chemical and pharmaceutical sector has ground to a halt. "Our entire Belgian and European industry is at a dangerous turning point," he said at the time.
BASF is headquartered in Ludwigshafen am Rhein, Germany, and is the world’s largest chemical company. The name stands for Badische Anilin- & Soda-Fabrik (Baden Aniline and Soda Factory in English).
BASF has five subsidiaries and around 4,000 employees in Belgium, where the company focuses on production, sales, research, and support services. The Antwerp facility is the group’s second-largest production site worldwide, employing over 3,000 people.
#FlandersNewsService | © BELGA PHOTO NICOLAS MAETERLINCK
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