Dow Chemical plans to cut 1,000 jobs

Source: MSNBC

Dow Chemical plans to cut 1,000 jobs
Company aiming to shed its underperforming businesses

updated 2 hours, 39 minutes ago

DETROIT - Dow Chemical Co. announced Tuesday it is cutting 1,000 jobs, or about 2.3 percent of its work force, as part of a plan to rid itself of underperforming businesses and boost its global efficiency.

The Midland-based company, one of the nation’s biggest chemical makers, said it will exit the automotive sealers business within the next nine to 18 months in North America, Asia and Latin America. It will look at options in its European operations.

Other cutbacks include idling a styrene plant in Camacari, Brazil, on Jan. 1 and closing a cellulose manufacturing facility in Aratu, Brazil, in the first quarter of next year.

“Today’s announcement reflects our commitment to prune businesses that are not delivering appropriate value and tackle tasks more efficiently across the entire organization ... freeing up capital and resources that will be redirected toward value-creating growth opportunities,” Andrew N. Liveris, Dow’s chairman and chief executive, said in a statement.

Read more: http://www.msnbc.msn.com/id/22096042/

cause cutbacks in the sheer amounts of toxic chemicals produced around the world.

AFAIAC this is GOOD news. Dow needs to beat its swords into plowshares and manufacture something other than dangerous substances.

They do make some useful products like Saran Wrap and provide a buttload of jobs in Michigan's Tri-City area, where I am. (Disclaimer: The last person from my family to work at Dow was my grandmother, who was Dr Henry H Dow's secretary in, like, 1917).
John
You know that all-time high concentration of Dioxins the EPA just found in the Saginaw River (it was in ALL the papers)? The location is less than two miles up the river from where I live.
And, while I worry about dioxins in the food chain and subsequently in me, it's also true that all native Michiganians over the age of 40 or so also have varying levels of PBBs in their bloodstream from the Vesicol Chemical/cattle feed debacle back in the 70s. That happened in St Louis, 40 miles west of here.
Still, I'm 51 and am doing/have done enough damage to myself that I'm not sweating the dioxins and the PBBs, which are or have been in the process of remediation for some time now.