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flag BASF cuts 8,500 IT jobs, raises cost savings to €2.3B, cites weak demand outside China, and plans divestitures amid profit forecast below 2025.

flag BASF, Europe's largest chemical company, is cutting about 8,500 IT jobs and raising its annual cost-saving target to €2.3 billion amid weak global demand outside China, where Lunar New Year timing boosted results. flag The company projects 2026 adjusted operating earnings between €6.2 billion and €7 billion, slightly below 2025’s level, citing a €200 million currency headwind from a weaker dollar. flag It plans to divest non-core units, including its coatings division, and list its Agricultural Solutions business in Frankfurt by 2027. flag Despite expanding in India with a new IT hub, the job cuts sparked union protests in Berlin, and shares dropped up to 5.4%.

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