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.
#back #years #flexibility #chief-executive #shutterstock #electric-vehicles #consumption #profitability #natural-gas #global-economy
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