Dow Chemical scrapping 1,500 jobs worldwide; Consequences for Terneuzen plant unclear
The American chemical company Dow Chemical is cutting 1,500 jobs, reducing its staff by 4 percent, the company announced on Thursday. It is not yet known where the layoffs will hit, but the company reportedly wants to cut back mainly in Europe and Asia. The consequences for Terneuzen, where Dow Chemical has its second-largest factory, are unknown, NOS reports.
Dow Chemical made a loss of 35 million dollars in the fourth quarter of 2024. There is less demand for the chemical company’s products, resulting in falling prices and shrinking profit martins. The company hopes to save 1 billion dollars with various measures, including these layoffs.
The consequences for Terneuzen are not yet known. The Dow factory in the Zeeland town employs 3,500 people - a tenth of Dow’s total workforce. Last week, the company postponed planned maintenance of the factory indefinitely.
Dow Chemical is the largest employer in Zeeland Flanders.
