TOP
Business & Financial News  |  22 September 2020
Finland
Media

BASF plans realignment of Global Business Services unit

  • Global concept to bundle service offerings for units in BASF Group
  • Headcount in Global Business Services will decline by up to 2,000 worldwide by end of 2022
  • Expected annual cost savings of over €200 million from 2023 as a contribution to BASF Group’s efficiency

BASF’s Global Business Services unit is being further developed. The division was established as of January 1, 2020, as part of the implementation of BASF’s corporate strategy. As of that date, around 8,400 employees worldwide transferred to Global Business Services and since then have been providing services for BASF’s business units, ranging from financial and logistical processes to services in the areas of communication, human resources, environment, health and safety.

Following the bundling of services and resources and the implementation of a wide-ranging digitalization strategy, the number of employees in Global Business Services worldwide will decline by up to 2,000 by the end of 2022. From 2023 onward, the unit expects to achieve annual cost savings of over €200 million. “Overall, with these planned measures, we will make a considerable contribution to BASF Group’s efficiency,” said Marc Ehrhardt, head of the Global Business Services division.

“By fundamentally simplifying processes and utilizing digital solutions, we want to meet the needs of the BASF business units flexibly and competitively,” said Ehrhardt, describing the objective. As part of this, more services than before will be bundled in hubs, which will offer as many services as possible for the units in the BASF Group. Details of the planned realignment will be worked out in the coming months. Employee representatives will be involved according to local rules and regulations.

 

About BASF

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 117,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2019. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.

 

P-20-314

 

Antje Schabacker
Corporate Media Relations
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Last Update 22 September 2020