Dow Chemical Announces Job Cuts and Plant Closures

Already reeling from a collapse in the auto industry, Michigan received yet another blow on Monday when Dow Chemical announced it would be cutting at least 5,000 jobs and closing 20 plants as it tries to survive the current economic crisis.

Dow’s announcement comes just days after DuPont announced it would be slashing its workforce by 2,500.

The decision to cut jobs and close plants was made by Dow in hopes that it would save the company nearly $700 million by 2010.

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