As part of a previously the ongoing restructuring of its Care Chemicals segment, BASF plans to cut around 120 jobs worldwide up to 2015.

The efficiency scheme, which will hit some of the businesses acquired with Cognis in 2010, will be implemented in the Home Care, Industrial & Institutional and Formulation Technologies businesses and follows a similar scheme in the Personal Care division.

BASF said the moves reflect the need to realign its business models and processes to better address differentiated customer needs in the fields of standard products as well as innovative solutions, It added, however, that alongside streamlining it is also investing in its assets.

"We combine optimized business processes with targeted investments continuing to rely on offering innovative solutions as one main source for growth. In this way, we will further strengthen our leading position in the Home Care and Industrial & Institutional Cleaning as well as Formulation Technologies businesses," said Gabriel Tanbourgi, head of the Care Chemicals division.