DuPont cuts 2,000 jobs worldwide
Canadian PlasticsCanadian Plastics
Material supplier DuPont will eliminate 2,000 jobs companywide, including an unspecified number from its ...
Material supplier DuPont will eliminate 2,000 jobs companywide, including an unspecified number from its Performance Materials unit.
Performance Materials — which includes DuPont’s market-leading nylon resin business — was one of four units singled out for the 2,000 cuts in a May 7 filing with the Securities and Exchange Commission. DuPont estimated that the cuts will result in annual savings of US$70 million in 2009, and of US$225 million by the end of 2010.
“The expanded actions will help preserve our strong cash position, streamline and accelerate our approach to markets, and better position our businesses as global economies rebound,” said Ellen Kullman, CEO of the Wilmington, Del.-based company.