BASF Targets Core Businesses for Further Cost Cutting
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BASF is intensifying cost-cutting efforts, aiming to reduce cash-based fixed costs in its core businesses by up to 20% by 2029. This restructuring includes selling non-core assets, spinning off its agricultural business, and job cuts. The CoreShift program targets segments generating around 40 billion euros in annual sales. BASF aims for 2.3 billion euros in annual savings by 2026, with 1.9 billion euros already achieved.
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