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BASF to Cut 2,600 Jobs After a Year of High Energy Costs

Por: The New York Times Business February 25, 2023

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The chemical giant BASF announced plans on Friday to cut 2,600 positions, mainly in Germany, as it reported a slide in earnings that it attributed to shifting global demand and a loss of the cheap Russian natural gas that has served as a backbone for the company for decades.BASF also said it would abruptly cut short a 3 billion-euro, or $3.2 billion, stock buyback program begun in January 2022. It had been scheduled to run until the end of this... + full article



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