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Business

Dow Corning Cutting 500 Jobs

by Marc S. Reisch
January 14, 2013 | APPEARED IN VOLUME 91, ISSUE 2

Dow Corning plans to cut 500, mostly white collar, jobs globally over the next few weeks. The cuts do not affect Hemlock Semiconductor, Dow Corning’s polysilicon joint venture with Shin-Etsu Handotai and Mitsubishi Materials. The workforce reduction is designed to better align the firm’s cost structure with today’s volatile global economy, says Dow Corning, which has 12,000 employees. Among the challenges the maker of silicone sealants and fluids says it now faces are oversupplied markets, high raw material costs, and slowed growth in many regions.

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