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DuPont to cut 1,700 Delaware-based jobs ahead of Dow merger
Jan. 5, 2016
DuPont
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United StatesDuPont Co. said it will cut about 1,700 jobs in early 2016 in its home state as the chemical company proceeds with a merger with Dow Chemical Co.
“Given that we are in the middle of the holidays, we would have preferred to wait until individual notifications were complete before reporting the full local impact,” DuPont Chief Executive Officer Ed Breen said in a letter to employees. “However, by December 31st, we are legally required to file a notice with the Delaware State government detailing the expected local job reductions.”
On Dec. 11, when the merger with Dow was announced, DuPont said that it planned to cut its workforce of 63,000 by 10 percent and reduce costs by $700 million.
“The effect in Delaware will be significant, reflecting the urgent need to restructure our cost base and, as part of that effort, reduce our corporate overhead costs so that we can remain competitive,” Breen said Tuesday in the letter.
Source: Bloomberg
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