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Business

BASF, Johnson Matthey Slash Staff Numbers

by Alex Scott
November 16, 2015 | A version of this story appeared in Volume 93, Issue 45

BASF is set to cut 120 staff by year’s end as a consequence of restructuring its paper, water, oil-field, and mining chemicals businesses. Under the new structure, meant to boost efficiency, the firm’s paper and water chemicals businesses will be combined into one global business unit named Paper & Water, and its oil-field and mining chemicals will be combined into the global business unit Oilfield & Mining Solutions. Meanwhile, Johnson Matthey says that “in light of some challenging market conditions, such as the low oil price and the slowdown in the Chinese economy,” it will cut a total of 70 jobs across five of its process technology sites in the U.K. by early December.

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