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BASF To Cut 2,000 Jobs

Sept. 22, 2020
The job losses will come from the newly created business services unit.

German chemicals giant BASF said Tuesday it would cut 2,000 jobs in its newly created business services unit to help slash costs.

The unit was created in January and bundles 8,400 employees from across the group who support BASF's other divisions through services such as human resources, communication, health and safety and logistical assistance. 

BASF said shedding 2,000 jobs by the end of 2022 would help the group save 200 million euros (US$234 million) annually by 2023. 

"Overall, with these planned measures, we will make a considerable contribution to BASF Group's efficiency," Marc Ehrhardt, head of the Global Business Services division, said in a statement. 

BASF booked a second-quarter net loss of nearly 900 million euros this year, partly because of a slump in demand from the auto industry, its most important customer, during the coronavirus lockdowns. 

The Ludwigshafen-based group employs 117,000 people worldwide, including more than 50,000 in Germany. 

© 2020 Agence France-Presse

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