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The Boston Globe


Market Movers

DuPont Co. will cut 1,500 jobs

DuPont Co. said it will cut about 1,500 jobs and take other steps to increase competitiveness after weak demand for a key industrial pigment and uncertainty in the solar panel market led to a sharp drop in third-quarter earnings. The chemical company reported net income of $10 million, or a penny per share, compared with $452 million, or 48 cents per share, a year earlier. Excluding one-time items, it earned 44 cents per share. CEO Ellen Kullman attributed the results to weaker-than-expected demand for titanium dioxide — a whitening pigment used in products ranging from paint to toothpaste — and overcapacity and uncertainty in the market for solar energy products.

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