Chemical companies report more layoffs, grim financial news

Chemical companies are announcing more layoffs and plant closures as the economy and slumping demand for plastics take their toll. Rohm & Haas announced this week that it was cutting 900 positions, or 5.7% of its work force, and BASF said it would cut working hours for nearly 1,700 workers. Also, Saudi Basic Industries reported a 95% decline in fourth-quarter net profit.

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