By Pietro Lombardi

 

BASF SE will cut up to 2,000 jobs in its global business-services unit as it targets more than 200 million euros ($235.4 million) in annual cost savings.

The German chemical company said Tuesday that the cull will be completed by the end of 2022, and the annual cost savings should be achieved from the following year.

The unit --which provides services such as human resources, communication, as well as financial and logistical processes to the group's business divisions--currently has about 8,400 employees across the world.

The company will provide addition details on the plan in coming months.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

 

(END) Dow Jones Newswires

September 22, 2020 09:36 ET (13:36 GMT)

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