DuPont to Fire 3,000 Workers, Shut Plant
From Bloomberg News
DuPont Co., the second-biggest U.S. chemical maker, said it would fire 3,000 workers, eliminate 950 other jobs and shut a spandex plant in Canada as part of a plan to trim annual costs by $900 million.
The job cuts, to be completed by Dec. 31, will reduce second-quarter earnings by 17 cents to 19 cents a share, Wilmington, Del.-based DuPont said, without providing an earnings estimate. In addition to the firings, about 500 jobs will be eliminated through attrition, reducing the workforce a total of 6%. About 450 contract positions also will be cut.
DuPont shares rose 63 cents, or 1.5%, to $44.06 on the New York Stock Exchange.
