Carbide to Eliminate 1,200 Jobs

Union Carbide Corp. today announced an escalation of its 15-month streamlining to include the sale of $1 billion in assets, the termination of 1,200 jobs and the development of its corporate campus into a commercial site.

The company has already trimmed more than 7,000 workers from its payroll in the last year and has promised to sell more than $2 billion in assets. In a letter to employees, Union Carbide President Robert Kennedy said the moves were a continuation of a huge restructuring the chemical company began last August.