Germany's BASF to Keep Workers at Ludwigshafen Site Under New Agreement

10:41 AM EST, 12/15/2025 (MT Newswires) -- BASF's (BAS.F) management and employee representatives reached a new agreement for staff at its site in Ludwigshafen, Germany, in response to economic and geopolitical challenges. As part of the deal, the German chemicals company agreed to refrain from compulsory redundancies at the site and invest 2 billion euros annually to upgrade and expand operations. The agreement also includes measures to improve productivity at Ludwigshafen, among others. The agreement initially runs for three years between Jan. 1, 2026, and Dec. 31, 2028, and will automatically extend for an additional two years if profitability targets are met.