Dow Chemical trims global workforce by 3% as part of chlorine business deal
May 5, 2015
By Manufacturing AUTOMATION
May 5, 2015 – Dow Chemical has announced it will cut about 3 per cent of its global workforce as it prepares to break off a significant part of its chlorine operations in a deal announced earlier this year with Olin Corp. According to the company, the cuts will reduce its employee count by 1,500 to 1,750 positions.
The Midland, Michigan, company said in March that it will receive about $2 billion in cash and cash equivalents and an estimated $2.2 billion in Olin common stock as part of the chlorine business deal.
— With files from The Associated Press
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