Mon Apr 2, 2012, 10:59 AM
OhioChick (21,501 posts)
Dow Chemical plans to lay off 900
Monday, April 02, 2012, 10:43 AM
MIDLAND, Mich. -- The Dow Chemical Co. plans to lay off about 900 people in response to weak demand for its products in Europe.
The Midland, Mich., chemical manufacturer said today that the positions will be cut as part of a plan to trim costs by about $250 million each year. The company also will shut down factories in Illinois, Portugal, Hungary and Brazil, and it will idle a plant in The Netherlands.
Dow Chairman and CEO Andrew Liveris said the company made the decision to adapt to a volatile economy, especially in western Europe.
Dow says it will book a first-quarter charge of $350 million in the first quarter for severance packages, asset impairments and other items related to its cost-cutting plan.
Read more: http://www.cleveland.com/business/index.ssf/2012/04/dow_chemical_plans_to_lay_off.html
Meanwhile...."Shares rose 3 cents to $34.67 in morning trading."
Some days, it's not even worth chewing through the restraints.
10 replies, 2090 views
Dow Chemical plans to lay off 900 (Original post)
|Ian David||Apr 2012||#1|
Response to Ian David (Reply #1)
Mon Apr 2, 2012, 11:13 AM
Gibby (96 posts)
4. That is certainly a succinct statement of Republican business 'conservatism'
If only we gave more tax breaks to the wealthy like Rush Limbaugh, we we see even more clearly the 'genius' of 'conservative' business 'practices.'
Response to OhioChick (Original post)
Mon Apr 2, 2012, 11:08 AM
onehandle (38,869 posts)
3. Well, that's one way to stabilize your stock value.
On dictator onehandle's stock market, a massive layoff would freeze trading of your stock.
TEA in 'Tea Party' isn't 'Taxed Enough Already,' it's Tolerant Enough Already, because a Black President was the Last Straw. --- 'When I see an adult on a bicycle, I do not despair for the future of the human race.' - H.G. Wells --- 'Stay hungry. Stay foolish.' - Steve Jobs ---
Response to hack89 (Reply #8)
Mon Apr 2, 2012, 06:39 PM
raouldukelives (2,644 posts)
9. At least they aren't part of the problem anymore.
Not that they would see it that way. They are probably like most people who love being subservient to corporations and who gladly exchange the lives of third world people and a healthy environment for a paycheck.