BASF to cut "at least 2,000" jobs this year

FRANKFURT: The world's leading chemicals group, BASF, said on Thursday it "will cut at least 2,000 positions by the end of 2009" as it deals with "an extremely difficult environment."

"BASF will restructure and, where necessary, close or sell plants and sites that cannot ensure the company's long-term competitiveness," added a statement which also unveiled a 68 percent drop in first quarter net profit to 375 million euros ($499 million).