BASF, the largest chemical producer in the world, announced a cut of 2,600 jobs due to high energy prices and reduced demand. Two-thirds of the cuts are in Germany. Two ammonia plants in the central production place in Ludwigshafen, Germany will be closed. Associated fertilizer plants will also be closed.
“The Creeping Farewell to Germany as a Business Location,” Die Welt headlined its coverage. Whereas trade unions are concerned with finding new jobs for the laid-off workers, the local CDU opposition says it is Putin’s fault.