Overview
- BASF announced CoreShift on Wednesday to reduce cash fixed costs in its core business by up to 20% versus 2024 by 2029, and the company said personnel costs will be a large part of the savings plan.
- Julia Raquet will lead a new transformation office that reports to CEO Markus Kamieth and will drive the program’s operational changes, process simplifications and greater use of IT and AI.
- The company confirmed further job reductions and structural changes across its footprint while upholding a site agreement that bars operational dismissals at the Ludwigshafen site through the end of 2028.
- As part of the portfolio reshaping, BASF has agreed to sell its sodium‑silicate business in Düsseldorf‑Holthausen to US producer PQ and is reorienting service units with reports that some Berlin service roles may be moved to India.
- CoreShift builds on earlier divestments and savings: BASF has already cut about 2,800 jobs at Ludwigshafen since early 2024, secured over €2.3 billion of prior savings programs, sold a majority stake in Coatings to Carlyle, and plans a minority IPO for part of its agricultural business.