BASF Targets Core Businesses for Further Cost Cutting

Dow Jones00:30

By Nina Kienle

BASF is stepping up its cost-cutting measures, targeting lower costs in its core businesses as part of a wider restructuring.

The German chemical company said Wednesday it aims to reduce cash-based fixed costs its core businesses by up to 20% by 2029 compared with 2024. This is the next step in a restructuring program that includes streamlining its portfolio, selling non-core assets, spinning off its agricultural business, and cutting jobs, BASF said.

BASF expects to further reduce its workforce, Chief Executive Markus Kamieth separately told Handelsblatt newspaper, without being specific on numbers. BASF wasn't immediately available to comment.

The cost-cutting program--dubbed CoreShift--focuses on the segments of chemicals, materials, industrial solutions, and nutrition and care that make up BASF's core businesses. These represent around 40 billion euros ($46.43 billion) in annual global sales.

Julia Raquet, president of the Europe, Middle East and Africa region, will lead the newly established core transformation office and report directly to the CEO, BASF said.

The company has previously said it aims to achieve 2.3 billion euros in annual cost savings by the end of 2026. As of the end of March, 1.9 billion euros of these savings had already been realized.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

May 20, 2026 12:30 ET (16:30 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2637216618?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-05-21 00:30","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2637216618","market":"sg","top_or_hot":-1,"title":"BASF Targets Core Businesses for Further Cost Cutting","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Nina Kienle \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  BASF is stepping up its cost-cutting measures, targeting lower costs in its core businesses as part of a wider restructuring. \n</p>\n<p>\n  The German chemical company said Wednesday it aims to reduce cash-based fixed costs its core businesses by up to 20% by 2029 compared with 2024. This is the next step in a restructuring program that includes streamlining its portfolio, selling non-core assets, spinning off its agricultural business, and cutting jobs, BASF said. \n</p>\n<p>\n  BASF expects to further reduce its workforce, Chief Executive Markus Kamieth separately told Handelsblatt newspaper, without being specific on numbers. BASF wasn't immediately available to comment. \n</p>\n<p>\n  The cost-cutting program--dubbed CoreShift--focuses on the segments of chemicals, materials, industrial solutions, and nutrition and care that make up BASF's core businesses. These represent around 40 billion euros ($46.43 billion) in annual global sales. \n</p>\n<p>\n  Julia Raquet, president of the Europe, Middle East and Africa region, will lead the newly established core transformation office and report directly to the CEO, BASF said. \n</p>\n<p>\n  The company has previously said it aims to achieve 2.3 billion euros in annual cost savings by the end of 2026. As of the end of March, 1.9 billion euros of these savings had already been realized. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Nina Kienle at nina.kienle@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 20, 2026 12:30 ET (16:30 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BASF Targets Core Businesses for Further Cost Cutting</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBASF Targets Core Businesses for Further Cost Cutting\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-21 00:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Nina Kienle \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  BASF is stepping up its cost-cutting measures, targeting lower costs in its core businesses as part of a wider restructuring. \n</p>\n<p>\n  The German chemical company said Wednesday it aims to reduce cash-based fixed costs its core businesses by up to 20% by 2029 compared with 2024. This is the next step in a restructuring program that includes streamlining its portfolio, selling non-core assets, spinning off its agricultural business, and cutting jobs, BASF said. \n</p>\n<p>\n  BASF expects to further reduce its workforce, Chief Executive Markus Kamieth separately told Handelsblatt newspaper, without being specific on numbers. BASF wasn't immediately available to comment. \n</p>\n<p>\n  The cost-cutting program--dubbed CoreShift--focuses on the segments of chemicals, materials, industrial solutions, and nutrition and care that make up BASF's core businesses. These represent around 40 billion euros ($46.43 billion) in annual global sales. \n</p>\n<p>\n  Julia Raquet, president of the Europe, Middle East and Africa region, will lead the newly established core transformation office and report directly to the CEO, BASF said. \n</p>\n<p>\n  The company has previously said it aims to achieve 2.3 billion euros in annual cost savings by the end of 2026. As of the end of March, 1.9 billion euros of these savings had already been realized. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Nina Kienle at nina.kienle@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 20, 2026 12:30 ET (16:30 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BASFY","symbol_name":"BASF SE","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2637216618","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2637216618","pubTimestamp":1779294600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"BASF is stepping up its cost-cutting measures, targeting lower costs in its core businesses as part of a wider restructuring.The German chemical company said Wednesday it aims to reduce cash-based fixed costs its core businesses by up to 20% by 2029 compared with 2024. This is the next step in a restructuring program that includes streamlining its portfolio, selling non-core assets, spinning off its agricultural business, and cutting jobs, BASF said.BASF expects to further reduce its workforce, Chief Executive Markus Kamieth separately told Handelsblatt newspaper, without being specific on numbers. BASF wasn't immediately available to comment.The cost-cutting program--dubbed CoreShift--focuses on the segments of chemicals, materials, industrial solutions, and nutrition and care that make up BASF's core businesses. These represent around 40 billion euros  in annual global sales.Julia Raquet, president of the Europe, Middle East and Africa region, will lead the newly established core tra","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BASFY":"BASF SE","BK4098":"多种化学制品"},"translate_title":"巴斯夫瞄准核心业务进一步削减成本","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BASFY":0.9},"content_text":"By Nina Kienle \n\n\n \n\n\n  BASF is stepping up its cost-cutting measures, targeting lower costs in its core businesses as part of a wider restructuring. \n\n\n  The German chemical company said Wednesday it aims to reduce cash-based fixed costs its core businesses by up to 20% by 2029 compared with 2024. This is the next step in a restructuring program that includes streamlining its portfolio, selling non-core assets, spinning off its agricultural business, and cutting jobs, BASF said. \n\n\n  BASF expects to further reduce its workforce, Chief Executive Markus Kamieth separately told Handelsblatt newspaper, without being specific on numbers. BASF wasn't immediately available to comment. \n\n\n  The cost-cutting program--dubbed CoreShift--focuses on the segments of chemicals, materials, industrial solutions, and nutrition and care that make up BASF's core businesses. These represent around 40 billion euros ($46.43 billion) in annual global sales. \n\n\n  Julia Raquet, president of the Europe, Middle East and Africa region, will lead the newly established core transformation office and report directly to the CEO, BASF said. \n\n\n  The company has previously said it aims to achieve 2.3 billion euros in annual cost savings by the end of 2026. As of the end of March, 1.9 billion euros of these savings had already been realized. \n\n\n \n\n\n  Write to Nina Kienle at nina.kienle@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 20, 2026 12:30 ET (16:30 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2637216618","isCrawlerRequest":true}