Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
BCM
User Panel

Posted: 5/1/2001 10:25:07 AM EST
With more and more folks losing their jobs, it's going to be a long, hot Summer.


05/01/2001

Dow Chemical to Cut 4,500 Jobs

DETROIT (AP) — Dow Chemical plans to cut 4,500 jobs, or 8% of its workforce, doubling its earlier job-reduction estimate as it looks to bolster savings from its purchase of Union Carbide.

The company had previously said it was cutting 4% of its workforce because of cost savings found through the acquisition, including the reduction of overlapping responsibilities.

Dozens of other companies, ranging from Motorola (22,000 job cuts) to Procter & Gamble (9,600 cuts), have also cut back operations in recent months, due in large part to the slumping U.S. economy.

Last Thursday, Dow Chemical said it lost $685 million in the first quarter, including a special merger-related charge of $1.4 billion.

Link Posted: 5/1/2001 3:00:43 PM EST
[#1]
Link Posted: 5/1/2001 3:29:31 PM EST
[#2]
Yep, Amazing How Sh*t only rolls down the Corprate hillside!
Here in the Detroit area, not only are we looking at all of the layoffs, but in the near future, $3.00 a gallon gas, and a 45% increase in our natural gas cost! Yippee! and I got a whole $.45 raise!! Wow! that will help! [pissed]

Ahh! Living the good life.......BullSh**!

Tall Shadow
Link Posted: 5/1/2001 3:43:54 PM EST
[#3]
Link Posted: 5/1/2001 3:51:34 PM EST
[#4]
Dow took a huge hit from the UNFOUNDED suits about the implants. "First, lets kill all the lawyers."
Link Posted: 5/1/2001 5:39:37 PM EST
[#5]
I just found out today that I made it through the DuPont layoff.  Don't know how long I'll be working but at least I made it this time.

I wish everyone the best and try to put a little extra back  in case you have a few slack months.  
Link Posted: 5/1/2001 6:10:19 PM EST
[#6]
In light of all these lay offs.

Per Bureau of Labor Statistics. Job growth is still steady rise in the US. The avg worker that gets laid off gets 6wks severance. The avg. laid off skilled worker gets another job inside of 2mos. Job outlook for US is still up.

[url]http://stats.bls.gov/news.release/ecopro.t02.htm[/url]

What is happening now is a correction of an over inflated economy. That's why it pays to be a contrarian: When the market is flourishing prepare for a downfall. During a downfall prepare for an upturn. Extend your time horizon and you will never go wrong.

What goes up must come down.
Link Posted: 5/1/2001 6:28:34 PM EST
[#7]
Damn! Where am I gonna get my napalm now
Close Join Our Mail List to Stay Up To Date! Win a FREE Membership!

Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!

You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.


By signing up you agree to our User Agreement. *Must have a registered ARFCOM account to win.
Top Top