Fidelity Investments said Thursday that has won an outsourcing contract with BASF Corp. to handle that company’s human resources operations.
The five-year contract would have Fidelity conduct BASF’s payroll operations, health and welfare benefit programs and retirement plans for BASF’s nearly 20,000 U.S. employees and retirees. Financial terms of the contract were not disclosed.
Boston-based Fidelity touted the agreement reinforcing increased interest by major corporations to outsource their human resources operations to a single provider. The transition of BASF’s programs to Fidelity’s is expected to be complete by fall 2005, with most services being activate in early 2006.
BASF Corp., with headquarters in New Jersey, is the American affiliate of BASF AG, Ludwigshafen, Germany. It had sales of approximately $9 billion in 2003.
Fidelity to handle HR for BASF
