After several months of negotiation (see our article No. 070584), the German group's management and the special negotiations’ body (SNB), which gathers the company'’s staff representatives, signed an agreement on staff representation in the new legal structure. Thus, BASF AG has overcome the last obstacle to its transformation into an SE which will formally be over at the beginning of 2008. (Ref. 070965)
With the agreement signed on November 15 at Ludwigshafen, at BASF’s headquarters, another large German company is adopting the SE status. First, the measure concerns BASF’s 61.000 employees in Europe (out of a total workforce of 92.000). As required by the European directive on SEs, the company’s management reached an agreement on the future staff representation bodies in the SE.
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