Dow Corning Corp. plans to cut its global workforce by approximately 500 people in response to slower-than-expected growth, the company said Jan. 9.
Most of the layoffs will impact positions in the professional ranks, the company said.
The Midland,Mich.-based producer of silicon-based technologies invested in resources to support growth that didn’t materialize as expected as the global economy remains volitile, said Robert Hansen, Dow Corning president and CEO.
“Our strategy for long-term success is robust and our foundation is financially strong,” Hansen said. “However, we must strengthen our ability to maintain our competitive position in the marketplace and our ability to deliver innovative products for our customers.”
For more information, visit www.dowcorning.com.