Dow Corning cut 500 jobs, aligns cost structure

Dow Corning to cut 500 jobs, aligns cost structure

4:55 AM, 10th January 2013
Dow Corning to cut 500 jobs, aligns cost structure
Robert D Hansen, President and CEO, Dow Corning.

MIDLAND, US: The Dow Corning Corporation intends to reduce global employment by approximately 500 people in the coming weeks, mostly in the professional ranks of the company, through an involuntary separation programme. The actions are designed to better align the company’s cost structure with the realities of today’s volatile global economy.

“Our company’s greatest asset is our people and this is a difficult decision to have to make. We are taking steps to ease the transition of affected employees and understand there are a lot of talented, hard working people leaving our team. Dow Corning has added significant professional capability and resources in support of expected and sustained growth in recent years,” said Robert D Hansen, President and CEO, Dow Corning.

“Since that growth didn’t materialize as expected, it was necessary to re-evaluate those investment decisions given the state of the global economy. Our strategy for long-term success is robust and our foundation is financially strong. However, we must strengthen our ability to maintain our competitive position in the marketplace and our ability to deliver innovative products for our customers,” added Hansen.

© Midland Daily News 

 

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