SOURCE: Industrial Info Resources

 
 
Dec 05, 2008 05:30 ET

DuPont to Cut 2,500 Jobs and 4,000 Contractor Positions, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - December 5, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- On December 4, DuPont (NYSE:DD) (Wilmington, Delaware) announced plans to restructure the organization in order to reduce capital expenditure and increase cash flow. In a news release discussing the intended restructuring, DuPont stated, "A steep global decline in construction and motor vehicle sales and consumer spending has resulted in declining industrial production, intensified by inventory reductions across most supply chains. These conditions have precipitated a sharp downturn in demand during the fourth quarter." Central to DuPont's restructuring plan is the elimination of about 2,500 jobs, most of which will be in sectors related to construction and automobile-manufacturing in the U.S. and Western Europe.

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