BOSTON: Faced with weakening revenue, three of the largest US companies warned that they would cut jobs to protect profits.
Dow Chemical Co said it would cut 2,400 jobs, about 5% of its staff, and close 20 manufacturing facilities in a bid to save US$500mil a year in operating costs. The company said it would also cut back capital spending and investments to save another US$500mil on top of that.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
