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Dow Chemical to cut workforce by 5%, shut 20 plants

3:56 PM MDT | October 23, 2012 | Robert Westervelt

Dow Chemical says it will eliminate approximately 2,400 positions, or 5% percent of its global workforce, citing “persistently slow macroeconomic growth.” The restructuring includes the shutdown of approximately 20 manufacturing facilities. Dow says the cuts will generate approximately $500-million/year of operating cost savings by the end of 2014....

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Comments (1) for Dow Chemical to cut workforce by 5%, shut 20 plants
1.
With only 14-days before the Presidential Election, I'm not to o suprised, nor even mystified, by this news annoucement about Dow Chemical's 20 plant closures with 2, 400 positions to be added to the unemployed especially in MI and OH, two critical electoral swing states, by citing persistently slow macroeconomic growth, and that hopefully these cuts will generate $500M per year of operating cost savings cummulative goal of $2.5 billion for a gain of 50 cts -to- 60cts/share for its stockholders. However, Dow should be careful in rolling the dice for these "untimely" interventions to represent their next phase to efficiency and prioritizing growth programs that will impact green environmental and clean energy initiatives in play beyond 2014.
Posted by James Fannon on Tuesday, October 23, 2012 @ 07:36 PM










 
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