DuPont to lay off 2,000 workers

[OhioChick]

Source: Economic Times India

7 May 2009, 1820 hrs IST, AGENCIES

NEW YORK: DuPont will cut 2,000 jobs as the chemical company wrestles with falling sales.

The Wilmington, Delaware-based company said Thursday it would take a charge of between $340 million and $390 million in the second quarter, about 40 percent of it non-cash.

DuPont says it will realize about $225 million in annual savings by the end of 2010.

The company had already announced it was cutting 2,500 jobs, and said late last year it would pare 8,000 contractors from its rolls.

DuPont shares rose 31 cents to $5.40 in premarket trading.

Read more: http://economictimes.indiatimes.com/International-Business/DuPont-to-lay-off-2000-workers/articleshow/4495874.cms

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This bleeding of jobs just isn't slowing down. :(

[ixion]

1. gee, it's a good thing that the recession is over, otherwise I'd be worried

:sarcasm:

[ChromeFoundry]

2. Yeah, luckily that stock market has been up most days.

:sarcasm:

[sarcasmo]

3. Cut jobs and watch your stock rise, what a sick country this has become.