Dow Chemical is cutting 2,500 jobs worldwide, including hundreds in Michigan and the Great Lakes Bay Region.
The layoffs come as the Midland-based company absorbs operations of Dow Corning and prepares for a merger with rival DuPont.
“We are moving quickly and effectively to integrate Dow Corning and deliver the synergies that will drive new levels of value creation for our customers and generate even greater returns for our shareholders,” said Andrew N. Liveris, Dow’s chairman and chief executive officer.
“With these difficult but necessary actions, we are bringing together the best of each company’s talent and technology, accelerating Dow’s strategy to go narrower and deeper into attractive, targeted market sectors, and setting the stage for the new Dow – the world’s leading material science company.”
Kent Holsing is the president of the United Steelworkers Union local in Midland. He’s been expecting this news since Dow and DuPont announced their merger plans last year.
“You know shareholders probably look at this as a good thing because the corporation’s saving money,” says Holsing, “But they don’t ask the employees that are losing their jobs what they think.”
Next month, Dow and DuPont shareholders vote on the companies’ merger plans.
Government regulators must still sign-off on the merger.