DuPont Co. (NYSE: DD) announced to cut 1,700 jobs in its home state Delaware by early 2016 as part of the restructuring program before a merger with Dow Chemical Co.
DuPont has been based in Delaware for more than 200 years and has 6,100 employees there. 1,700 jobs cut will be 28 percent of DuPont workforce in Delaware. It will be a huge impact on the state. But DuPont promise to provide affected employees with separation packages, career placement services and training allowance.
The jobs cuts are “deeply disappointing, especially to the thousands of Delawareans who helped this company grow and succeed for generations,” Delaware Governor Jack Markell said in a statement.
DuPont said that it was in the middle of the holiday season and the company preferred to let the affected employees know the news first, but it is required to inform the state by Dec.31 on the job cuts, that’s why they announced the news now.
DuPont announced the merger with Dow Chemical this month with a $700 million cost savings and restructuring program, but at that time it didn’t state how the restructuring program works. According to spokesman Dan Turner, 1,700 job cuts are just the beginning, there are more job cuts in global. The company plans to cut about 10 percent of its global workforce, which are about 5,400 employees worldwide. These job cuts are expected to result in a $700 million cost savings.