DuPont To Cut 1,700 Jobs In Delaware

(RTTNews) - Chemical giant EI DuPont De Nemours & Co. (DD) or DuPont said it will cut about 1,700 jobs in its home state of Delaware in early 2016 as the chemical company proceeds with a merger with Dow Chemical Co.

"The first step is the $700 million cost reduction and associated restructuring we announced on December 11th. While this program is being implemented globally, I want to be straightforward with you about the impact on our local workforce. The effect in Delaware will be significant, reflecting the urgent need to restructure our cost base and, as part of that effort, reduce our corporate overhead costs so that we can remain competitive. The change also reflects the impact of our efforts to move corporate functions into the businesses, closer to our customers," DuPont Chief Executive Officer Ed Breen said in a letter to employees.

The job cuts announced Tuesday are part the plan to reduce the workforce of 63,000 by 10 percent and trim costs by $700 million.

"Especially given that we are in the middle of the holidays, we would have preferred to wait until individual notifications were complete before reporting the full local impact. However, by December 31st, we are legally required to file a notice with the Delaware State government detailing the expected local job reductions, and I wanted you to hear the difficult news—directly from me—that approximately 1,700 Delaware based positions will be eliminated in the beginning of the year," Ed Breen said.

The company also announced that the corporate headquarters for the combined, post-merger Specialty Products business will remain in Wilmington, Delaware.