Dow plans 1,500 layoffs in $1B savings plan

"Today, Dow announced a bold move to cut 1,500 jobs and slash $1 billion in costs amidst inflation and global uncertainty. With a $20-30 million implementation budget, they aim to save $300 million in 2024 and fully execute by 2026. Here’s the kicker for the paper packaging industry: Dow’s largest segment, packaging and specialty plastics, saw a 6% revenue drop due to declining polyethylene prices. For paper-based packaging, this signals an opportunity to gain market share as brands may pivot from plastic to sustainable alternatives. Could this be paper's moment to shine? Stay tuned!"https://www.manufacturingdive.com/news/dow-to-cut-1500-jobs-to-save-1-billion-q4-2024-q1-2025/738755/

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