DuPont will dismiss nearly 2,000 employees in a global merger with Dow Chemical

DuPont will dismiss nearly 2,000 employees in a global merger with Dow Chemical

04.01.2016 News

DuPont will dismiss nearly 2,000 employees in a global merger with Dow ChemicalRecently, two major global corporations in the Chemistry industry DuPont and Dow Chemical signed a merger deal. After closing, the new company will be called DowDuPont, it will be headed by the current head of Dow Chemical – Andrew Liveris.

A few days ago, DuPont told reporters about plans to hold a global reduction of staff in the framework of the merger with Dow Chemical. Executive Director of the Corporation has applied the staff with an official letter. Management reported that they would prefer to inform each employee of the impending dismissal personally, however, since they need to provide the notice of dismissal  until December 31, an official letter to the total was drafted.

In total, under the reduction appeared about 1,700 employees in major enterprises of the company in Wilmington, Delaware. At the moment, the leadership did not give any comments on the question of how necessary is to reduce the staff by nearly 2,000 people.

According to experts, this decision will help save money and adapt more quickly in the global restructuring of the new enterprise. Company  needs to reduce costs at this stage , and  it is looking for all possible ways to realize this – lawyers commented.

For 2015 DuPont revenues plummeted to $ 2.75 per share, while it was expected to receive $ 3.10 per share. By taking measures to reduce costs, a major chemical company expects that in 2016 it will be reduced by the cost of $ 1.3 billion.

The company DuPont  is the oldest large-scale enterprise, which produces a wide range of chemical materials, unique polymers, including nylon,  teflon and  kevlar are invented here.

Source: news.rambler.ru

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