Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Dow Chemical has announced a global restructuring plan to cut 2,000 jobs from it's workforce. The company sites increases in production costs following Russia's invasion of Ukraine, China's COVID-led lockdowns and signs of a global economic slowdown for squeezing demand of Dow's chemicals used in industries ranging from automobiles, food packaging to electronic items. These factors and their loss in revenue during Q3 and Q4 in 2022 has resulted in the company announcing a one billion USD saving plan, of which the job cuts are a part of.
There are no details on where the job cuts will take place of in what departments. However, the company has said they will be concentrated in Europe. The restructuring process for employees and the involvement of social partners has not been announced.
Job cuts in the Netherlands, which are part of this global internal restructuring, have been recorded in the ERM database (Dow Chemical-2023-NL).
Eurofound (2023), Dow Chemical, Internal restructuring in World, factsheet number 108662, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108662.
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