Dow Chemical to cut 5,000 jobs, close 20 plants

[DainBramaged]

Dow Chemical Co. said today it will slash 5,000 full-time jobs — about 11% of its total work force — close 20 plants and sell several businesses to rein in costs amid the economic recession.

The company, one of the largest chemical makers in the world, expects the moves to save about $700 million per year by 2010. Dow also will temporarily idle 180 plants and prune 6,000 contractors from its payroll.

http://www.freep.com/article/20081208/BUSINESS06/81208020

Not that it matters. Just more people out of work.

[grannie4peace]

1. that hurts lake jackson texas

[Cessna Invesco Palin]

2. Hynix in S. Korea doing the same.

They're either the biggest or second biggest manufacturer of memory chips - used in everything. It's bad all over.

[OhioChick]

3. Ouch. More hemorrhaging.

K&R

[Davis_X_Machina]

4. Dow produces other companies' inputs....

....the supply chain is shutting down from the branches back towards the trunk.

[valerief]

5. And they can give that 700 million to their execs instead. nt

[opihimoimoi]

6. Bush and the GOP must be ashamed...how can they sleep?

Just before Xmas

What a horrible thought....

The Pubs really fucked up when they cheated for Bush....

[SpiralHawk]

7. "Cry me a freakin river." - Napalm Victims

[Cessna Invesco Palin]

8. Yeah, cause we all know the only thing Dow produces is Napalm. n/t

[DainBramaged]

9. There's always someone throwing a hand grenade in there

It astonishes me how DU holds the sins of our Grandparents against us. They hate GM because they claim GM supported the Nazis during WWII. Or GM crushed the EV1 and destroyed mankind so they are the evil empire.