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BASF Warning Does Not Bode Well for Dow Chemical, DuPont
News is out this morning that the world's largest Chemical company, BASF, will be cutting up to 20,000 jobs.
The company is cutting its profit outlook for 2008 and announced cutbacks in production, citing a "massive" decline in demand in key industries. Management announced plans to temporarily shut down 80 plants worldwide and reduce production at a total of about 100 plants. ...
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