You can't pack up a chemical factory and ship it overseas in a matter of weeks... in any case, BASF has let go hundreds of people last year and shut down part of said plant [1], partially due to staff cost but also due to a move to China planned to be finalized in 2030 [2]. They're aiming for 50% of gross income to come from China... utter madness if you ask me.
[1] https://www.swr.de/swraktuell/rheinland-pfalz/ludwigshafen/w...
[2] https://www.wiwo.de/technologie/wirtschaft-von-oben/wirtscha...