DuPont to eliminate 2,500 employees in Western Europe, United States

06-Dec-08
With a view to maximize cash flow amid the current global economic downturn, DuPont will lay off 2,500 employees from businesses that support the motor vehicle and construction markets in Western Europe and the United States, a company press release declared. Also, the company will take a pre-tax charge totaling approximately US$500 mln (US$.40/share) in the Q4 - 2008 for the restructuring plan. These actions are expected to produce a pre-tax earnings increase of about US$130 mln for 2009 and about a US$250 mln annual run rate. In order to rapidly tame down working capital and operating costs, DuPont will also trim 4,000 contractors by 2008 end with further cuts in coming year, carry out work schedule reductions at select locations, and redeploying more than 400 employees to productivity projects. The company expects Q4 - 2008 sales to be at least 15% lower than fourth quarter 2007, principally reflecting a significant decline in worldwide sales volumes.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha