Dow Inc. to Pare Workforce Costs 6%, Take Charges [TheStreet.com]
Dow Inc. (DOW)
Last dow inc. earnings: 4/30 06:00 am
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US:NYSE Investor Relations:
dow.com/en-us/about-dow/our-company/investor-presentations
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Source: TheStreet.com
Storied materials-science company Dow Inc.(DOWGet ReportIt didn’t specify the amount of any layoffs.The restructuring stems from the coronavirus pandemic, which has curbed demand for Dow products, the company said.Besides the 6% cost cut, the revamp includes "[rationalizing] certain manufacturing assets,” the Midland, Mich., company said in a statement.“These actions are expected to result in total annualized [earnings before interest, taxes, depreciation and amortization] savings of more than $300 million by the end of 2021.”The industrial intermediates-and-infrastructure segment will shut certain amines and solvents facilities in the U.S. and Europe, as well as select small-scale downstream polyurethanes manufacturing facilities.The performance-materials-and-coatings unit will shutter manufacturing assets, primarily small-scale coatings reactors.“Given the expected gradual and uneven global economic recovery from covid-19, we announced in July that we are taking necessary actions to
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DOW
Earnings
- 1/25/24 - Beat
DOW
Sec Filings
- 3/19/24 - Form DEFA14A
- 3/19/24 - Form PX14A6G
- 3/6/24 - Form 4
- DOW's page on the SEC website