Germany’s BASF will cut 6,000 jobs as part of a plan to boost profits amid slowing demand in one of its key global markets: cars
BERLIN—BASF SE said it would cut 6,000 jobs, roughly 5% of its global workforce, as part of a broader plan to boost profits at the German chemicals giant that has suffered from slowing demand in one of its key global markets: cars.
BASF, whose chemicals can be found in nearly everything from car seats to detergents, said the cuts would generate €300 million in annual savings and would take place by the end of 2021.
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