6 Apr 2004
From Rubber & Plastics News
MIDLAND, Mich. (April 5)--Dow Corning Corp. plans to cut 250 jobs, mostly in the U.S., as it continues to lower its operating costs.
The cutbacks equal about 3 percent of the firm's 8,200-person worldwide work force. Employee notifications about the layoffs began April 5, according to a company spokeswoman. She could not give a breakdown on what positions will be eliminated, but said most are white-collar jobs and none involve unionized workers.
A combination last year of some of the company's related businesses was cited as one reason for the cutbacks. "Eliminating positions is a step any company takes with reluctance," the spokeswoman said, "but one companies must do to be a thriving enterprise and continue to meet targets."
Dow Corning has been under Chapter 11 bankruptcy protection since 1995 because of lawsuits related to the silicone implants the firm formerly produced. A judge last week set June 1 as the date for the company to emerge from Chapter 11. The spokeswoman said the layoffs are not related to the emergence from Chapter 11.
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