BASF reports revenue growth amid ongoing job cuts

BASF has reported an unexpected increase in revenue for the third quarter, even as the company continues significant workforce reductions. In the Ludwigshafen plant alone, reports indicate between 3,600 and 4,200 jobs may be cut in 2026.

SPD state parliament member Gregory Scholz criticized the company, stating that while BASF is under pressure to reduce costs to remain competitive, the job cuts create permanent instability for the region and its workers. Although operational redundancies in Ludwigshafen are reportedly excluded until the end of 2028 due to social partner agreements, the company is utilizing natural attrition, early retirement, and voluntary severance packages.

To improve productivity beyond headcount reduction, BASF is implementing its CoreShift program, which focuses on harmonized processes, a proprietary ERP system, and artificial intelligence applications. The company also faces challenges regarding raw material availability and costs, such as naphtha and butane, which impact international competitiveness.