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Finance

BASF to cut 6,000 jobs worldwide

by Marc S. Reisch
June 28, 2019 | APPEARED IN VOLUME 97, ISSUE 26

 

BASF says it will cut 6,000 positions worldwide by the end of 2021. In November, the firm unveiled a reorganization aimed at increasing earnings by $2.3 billion annually but said it would not necessarily cut jobs. Now it says job cuts will come from organizational simplification and efficiency gains in administration, services, and operating divisions. However, it will continue to add employees in areas such as production and digitalization depending on future growth rates.

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