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Dow to Cut 1,000 Jobs

6:49 AM MST | December 4, 2007 | Kerri Walsh

Dow Chemical says it will cut 1,000 jobs, about 2% of its total workforce, across several businesses and geographies in an effort to cut costs and improve efficiency. The move will result in a fourth-quarter charge of $500 million-$600million, which includes severance and asset write-down costs, Dow says. It says it expects to realize savings of about $180 million/year after the program is complete. Dow says it will close a fungicide manufacturing site at Lauterbourg, France because of overcapacity within the industry, a disadvantaged cost position, and...

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