Dow will reduce its assets by at least $350 million.

Dow Chemical also said it will cut its worldwide work force by 2,500 white-collar jobs. The write-downs and write-offs of assets and the cost of cutting jobs will be charged against this year’s profits, the company said. Cutting the work force through a program of voluntary early retirements and separation incentives will cost from $100 million to $120 million, it said. The reduction in asset value will be concentrated mainly in the company’s core chemical business in North America. The company said 1,500 of the jobs eliminated will be salaried positions in the United States.