Germany’s BASF to shed 2,600 jobs in cost-cutting drive

The German chemical group BASF plant in Ludwigshafen, Germany (Alamy/PA)

Chemicals maker BASF said it plans to cut around 2,600 jobs in a cost-cutting drive spurred in part by the impact of high energy prices.

The announcement came after charges related to the exit from Russia of the company’s gas and oil subsidiary pushed it to a loss in 2022.