Dow is cutting 4,500 employees as part of a cost-saving program that will lean on AI to increase productivity and bolster shareholder returns.
The Wall Street Journal reports that the chemical giant announced significant workforce reductions as part of a comprehensive restructuring initiative focused on automation and artificial intelligence. The cuts will result in one-time charges ranging from $1.1 billion to $1.5 billion, the company disclosed Thursday. The announcement came alongside quarterly earnings results that showed the company’s loss widened due to lower revenue and higher costs.
The workforce reduction at Dow represents the latest…
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