Dow Chemical announces plans to cut jobs and close plants

摘要

In its ongoing drive to improve efficiency and cost effectiveness of its global operations,Dow Chemical Company plans to cut 1,000 jobs and shutter a number of under-performing plants,saying it-will put the savings into higher-growth opportunities.The job cuts constitute about 2.3% of Dow's estimated 42,500 employees.The company expects to incur a fourth-quarter charge of 500-mn to 600-mn,including costs for severance and asset write-downs.Once these actions are fully implemented,the company expects to realise savings in the order of 180-mn a year.