Dow Chemical To Cut Approx. 3% Of Its Global Workforce - Quick Facts

(RTTNews) - The Dow Chemical Company (DOW) announced a series of actions to further streamline the organization as a result of the pending separation of a significant portion of its chlorine value chain. The actions will result in a reduction of approximately 1,500 - 1,750 positions, or approximately 3 percent of the global workforce.

The company will take charges totaling approximately $330 million - $380 million in the second quarter of 2015 for asset impairments, severance and other costs related to these measures, which are expected to be completed during the next two years. Once fully implemented, the company expects these actions to result in approximately $300 million of annual operating cost savings.