Dow Chemical today said it would cut 2,500 jobs worldwide, less than a month after fully acquiring previous joint venture Dow Corning. Dow also said it would shut down silicones manufacturing sites in Greensboro, North Carolina, and Yamakita, Japan. The company said the reductions would help it achieve $500 million in cost savings and $1 billion in annual EBITDA from Dow Corning.
Dow is in the process of merging with rival DuPont. The deal is expected to close in the second half of 2016.
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