July 8, 2019 / 5:53 PM / 3 months ago

BASF to slash 6,000 jobs, lowers fiscal year outlook

FRANKFURT, July 8 (Reuters) - German chemicals giant BASF on Monday lowered its 2019 outlook and announced it would cut 6,000 jobs, blaming a downturn in automotive markets and the North American agricultural sector for weaker second-quarter results.

BASF said earnings before interest and taxes before special items are expected to be up to 30% below 2018 levels after second-quarter earnings came in significantly below BASF’s expectations. (Reporting by Edward Taylor, editing by Deepa Babington)

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