MIDLAND, Mich. (Michigan News Source) – Midland-based Dow announced a $1 billion cost saving measure which will also reduce its overall workforce by 2,000 employees.
That would reduce their team by 5%, which currently employs nearly 38,000 people.
MORE NEWS: AAA: ‘Tow to Go’ is Good to Go Through Jan. 2
Company officials stated the reason for the cuts is “near-term macroeconomic uncertainty.”
The job cuts are part of a larger plan that includes structural improvements of $500 million and operating expense reductions of $500 million, according to the release.
Leave a Comment
COMMENTS POLICY: We have no tolerance for messages of violence, racism, vulgarity, obscenity or other such discourteous behavior. Thank you for contributing to a respectful and useful online dialogue.