Dow Chemical

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Chemicals And Pharamceuticals
Manufacture Of Chemicals And Chemical Products
20 - Manufacture of chemicals and chemical products
11,000 jobs
Number of planned job losses
Job loss
Announcement Date
9 December 2008
Employment effect (start)
Foreseen end date
31 December 2009

Description

Chemical company Dow Chemical with 46,000 employees worldwide has announced the closure of 20 plants with the loss of 5,000 permanent jobs by the end of 2009 to cope with the global financial crisis. It was also reported that the company will reduce the production in 180 manufacturing operations throughout the world and the loss of 6,000 temporary jobs. The restructuring measures are expected to save up to USD 700 million per year.

Sources

Citation

Eurofound (2008), Dow Chemical, Internal restructuring in World, factsheet number 67595, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67595.