Germany's BASF agreed to avoid compulsory employee firings at its main Ludwigshafen site until 2028, which can be extended till 2030 if agreed profitability targets are met. BASF has also agreed to invest €1.5-2 billion (up to ₹21,400 crore) annually to modernise the site. In 2023, BASF announced 2,600 job cuts at sites including Ludwigshafen, which have been largely completed.