Major German corporation announces tough austerity program - staff also affected. BASF aims to save one billion euros annually by 2026.
Weak demand is forcing the chemical giant BASF to take drastic cost-cutting measures. The automotive supplier ZF Friedrichshafen has also adopted tough austerity measures and wants to save six billion euros in costs over the next two years. The editor Julian Baumann wrote this article and then used an AI language model for optimization at his own discretion. All information has been carefully checked.