Dow Chemical to slash 5% of global workforce
SAN FRANCISCO (MarketWatch) — Dow Chemical Co. said late Tuesday it will cut 2,400 jobs, or 5% of its global workforce, in response to slow economic growth. The chemical giant said it will also shut down 20 domestic and international manufacturing facilities. The actions are expected to save about 0 million annually by the end of 2014. Dow said it will take a charge of 50 cents to 60 cents a share for the moves in the fourth quarter. The company also said it plans to trim 0 million from capital spending and investment programs. Dow is scheduled to report quarterly earnings on Thursday before market open.
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