SOURCE: Industrial Info Resources
December 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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