Enter your e-mail address below
to reset your password.
Please activate your registration
by clicking the link in the activation email
or click submit to resend the activation email.
Please check your spam folder too...
Check your mailbox to activate your registration.
Please check your spam folder too.
BASF’s first quarter operating profit slumped 58% as demand from key customers in the automotive and construction sectors shows no sign of recovery, prompting the chemicals group to cut jobs.
The world’s largest chemical maker said fourth-quarter earnings before interest and taxes (Ebit) excluding one-off items fell to €985 million ($1.31 billion), ahead of the average estimate of 744 million in a Reuters poll of 16 analysts.
BASF said it planned to cut at least 2,000 of its currently almost 100,000-strong workforce by year-end as part of a cost cutting program. (Reuters)