Global Processing

DuPont to cut 1,500 jobs

March 23, 2006
DuPont Company plans to cut 1,500 jobs and close four facilities in Europe in a restructuring of its performance coatings business, according to the Associated Press. DuPont officials said the restructuring, which will take about 18 months to complete, will reduce annual costs by about $165 million. The Wilmington-based company anticipates taking a pre-tax charge up to $165 million in the first quarter, with additional costs of up to $55 million over the next year. The jobs targeted for elimination make up approximately 15 percent of the workforce in DuPont''s performance coatings division, which provides paint finishes to the automotive industry. The division also produces a variety of industrial