Still scrambling, DuPont cuts 2,000 jobs
May 11, 2009
DuPont announced it would cut another 2,000 jobs as falling orders from the automotive and manufacturing sectors continue to eat away at sales, the Associated Press reports. Consumers have cut way back on spending for everything from cars to houses, striking directly at the heart of the chemical industry. Rival Dow Chemical has cut 10,000 jobs since last fall. Dow was able to post a first-quarter profit only because of its agricultural unit -- which sells seeds and other farming products and has very little to do with the company''s core business. DuPont said a sharp drop in global industrial demand pushed its first-quarter profit down by 59 percent. The company had already announced 2,500 layoffs last fall and said it would eliminate about 10,000 contractor jobs.