Chemical giant BASF to shift jobs from Germany to Asia

The vast German chemical sector has been mired in crisis in recent years due to overcapacity, weak demand and high energy costs. BASF, the world's biggest chemical group and a key supplier to industries ranging from automotive to agriculture, has launched a major savings drive, in particular directed at its operations in Germany. In its latest move, the group said it intended to cut administrative jobs, including at a major hub in Berlin, without giving a precise figure. It outlined plans to...