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BASF Slashes IT Jobs Amid Market Struggles, Shares Drop

2/27/2026

41 5 Full Breakdown

Summary

Story summary

BASF SE announced job cuts in its internal information technology division, aiming to save €2.3 billion annually by year-end in response to a challenging chemicals market.
CEO Markus Kamieth said 2026 will be a transitional year with headwinds.
BASF's shares fell 5.4% in Frankfurt amid weak market conditions.
Union representatives protest the cuts as BASF opens a new hub in India and lists Agricultural Solutions by 2027.

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Story summary

BASF SE announced job cuts in its internal information technology division, aiming to save €2.3 billion annually by year-end in response to a challenging chemicals market.
CEO Markus Kamieth said 2026 will be a transitional year with headwinds.
BASF's shares fell 5.4% in Frankfurt amid weak market conditions.
Union representatives protest the cuts as BASF opens a new hub in India and lists Agricultural Solutions by 2027.