Wedoany.com Report-Oct. 23, On Wednesday, BASF, the German-based chemicals group, announced plans to cut around 600 jobs at its Antwerp site by the end of 2028. The reduction will affect nearly one in five positions at the facility. The company cited the current economic environment and limited impact from government industrial support measures as reasons for the decision.

Previously, BASF had planned to reduce fixed costs by €100 million by 2028 compared with 2024 levels. The target has now been raised to €150 million, largely through personnel cost savings, which will lead to the job reductions. The company stressed that no compulsory redundancies for economic reasons are planned and emphasized facilitating internal job transitions. Additionally, one in three senior executive positions will be streamlined to support efficiency improvements.

Frank Beckx, CEO of the employers’ organisation VOKA, described the announcement as a "new uppercut for Flemish industry," noting that maintaining key industrial assets is vital for regional prosperity. Flemish Minister President Matthias Diependaele (N-VA) also called the loss of 600 jobs "dramatic" during a Wednesday interview on VRT’s Villa Politica. He noted that while the Flemish government supports industry in areas like permitting and energy policy, the European Union must do more to strengthen industrial competitiveness.

BASF has a long-standing presence in Belgium, with five subsidiaries and around 4,000 employees, focusing on production, sales, research, and support services. The Antwerp facility, the group’s second-largest production site globally, employs over 3,000 people. The company highlighted that the restructuring aligns with its broader strategy to control fixed costs and maintain long-term competitiveness.

In previous statements, BASF executives had warned of potential challenges in Belgium and across Europe. Last year, CEO Jan Remeyen told Trends that job creation in the chemical and pharmaceutical sector had slowed, noting that "our entire Belgian and European industry is at a dangerous turning point."

Headquartered in Ludwigshafen am Rhein, Germany, BASF is the world’s largest chemical company, with its name standing for Badische Anilin- & Soda-Fabrik (Baden Aniline and Soda Factory). The Antwerp site remains a key production hub, and the company indicated that despite the restructuring, it will continue operations and focus on maintaining efficiency and innovation across its Belgian and European facilities.

The announcement reflects broader pressures on the chemical sector in Europe, as companies adjust to rising costs, competitive pressures, and structural challenges, while seeking to sustain long-term growth and operational resilience. BASF plans to implement the changes gradually through 2028, aiming to balance cost reductions with workforce support and internal mobility initiatives.