You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Dow will cut 900 jobs, close plants

CEO Andrew Liveris says Dow Chemical faces volatile economic conditions in Europe.

MIDLAND, Mich. - Dow Chemical will cut 900 jobs and shutter plants on three continents because of weakness in Europe.

Four years ago, Dow cut more than 10,000 positions. Chief executive Andrew Liveris has aggressively sought to keep the company, the largest US chemical maker, agile.

Continue reading below

“These actions, while difficult, are in full alignment with our commitment to continually manage our portfolio to adapt to changing and volatile economic conditions,’’ Liveris said.

Eurostat, the European Union’s statistics office, said unemployment rose to 10.8 percent in February. Spain’s unemployment level hovers around 23 percent.

Europe also released data on a bigger-than-anticipated manufacturing slump.

Dow said its latest maneuvers will trim costs by about $250 million each year. In all, Dow will close four plants, idle a fifth, and consolidate other operations.

In the United States, where the company employs about 25,000 people, Dow will close a factory in Illinois and cut fewer than 375 positions.

Dow has 52,000 employees worldwide.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of