Dow Plans 2,000 Job Cuts Under Plan to Save $1 Billion in Costs
- Chemicals, plastics company aims to save $1 billion in costs
- Dow plans charge of $550 million to $725 million in quarter
This article is for subscribers only.
Dow Inc. plans to cut about 2,000 jobs as the chemical maker seeks $1 billion in savings and confronts a flareup in energy costs that followed Russia’s invasion of Ukraine.
The company said it will shut down certain operations, “particularly in Europe,” in response to the challenges. Dow is also reducing purchases of raw materials and seeking to cut logistics and utilities costs, according to a statement Thursday.