Dow Chemical (NYSE:DOW) has decided to shut down four plants and to lay off 900 employees.
Dow Chemical To Close Four Plants
Midland, Michigan based Multinational Corporation and second largest chemical manufacturer in the world by revenue, Dow Chemical (NYSE:DOW), has reportedly decided to shut down four of its plants and has also decided to cut 900 workmen as a measure to reduce costs by $250 million due to the weak economy.
Dow Chemical (NYSE:DOW) announced that $110 million from the savings by lay off and shut down will be distributed to the ex-employees.
Dow Chemical (NYSE:DOW) company shares are currently standing at 33.60.