Dow Chemical today announced it would cut 3% of its global workforce — approximately 1,500-1,750 positions — as it separates a large portion of its chlorine business. Dow also said it would make “minor adjustments” to its asset footprint, saving the company approximately $300 million per year in operating costs when combined with the layoffs.
Dow in March struck a $5 billion deal to spin off its Gulf Coast chlor-alkali and vinyl, global chlorinated organics and global epoxy businesses and merge them into Olin Corp.
MORE DOWNSTREAM NEWS: Celanese, Mitsui may build new methanol unit in Texas
