BASF workforce at Ludwigshafen falls to 1954 levels

BASF's workforce at its main Ludwigshafen site has fallen to levels last seen in 1954, reflecting ongoing restructuring. The chemical company is making progress with its corporate overhaul, and its shares rose following better-than-expected second-quarter results. BASF also raised its outlook for the year, citing improved performance. The reduction in staff is part of a broader downsizing effort at the site.