Dow Chemical plans to eliminate 2,500 jobs and close plants in North Carolina and Japan in the aftermath of its Dow Corning silicone venture takeover, according to an article from Bloomberg. The job cuts reportedly represent 4% of Dow’s workforce.
According to the article, Dow raised its goal for cost savings from the takeover by $100 million. The company reportedly paid $4.8 billion for Corning’s 50% share in the 72-year-old joint venture. The deal was completed earlier this month.
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