http://www.visiontimes.com/?p=87948

DuPont to Cut 1,700 Jobs in Delaware

DuPont CEO, Ed Breen, shakes hands with Dow Chemical CEO, Andrew Liveris, after announcing their companies' merger into DowDuPont. (Image:   Courtesy of DuPont)
DuPont CEO, Ed Breen, shakes hands with Dow Chemical CEO, Andrew Liveris, after announcing their companies' merger into DowDuPont. (Image: Courtesy of DuPont)

Agrochemical giant DuPont will lay off about 1,700 employees in Delaware in early 2016, according to a memo sent to employees by DuPont CEO and Chairman Ed Breen on Tuesday, December 29.

The job cuts are part of restructuring and cost cutting efforts ahead of a planned merger with The Dow Chemical Company, that is expected to close in the second half of 2016. In a December 11 statement, DuPont announced a plan to reduce $700 million in costs in 2016 compared with 2015, and said that about 10 percent of DuPont’s global workforce will be impacted.

In Breen’s letter to staff about the layoffs, he said the company leadership would have preferred to wait until individual notifications were complete before reporting the full local impact, but the company was required to file a notice of the layoffs to the Delaware State government by December 31.

“I wanted you to hear the difficult news — directly from me — that approximately 1,700 Delaware-based positions will be eliminated in the beginning of the year,” Breen wrote.

“I am deeply aware that these decisions affect the lives — and families — of many people,” he wrote, “As we work through these notifications, we are committed to doing so in a way that is consistent with our Core Values. We will honor each colleague’s service to the company by providing separation packages, career placement services, and training allowances as part of our effort to help our team members through these transitions.”

Delaware Governor, Jack Markell, called DuPont’s announcement deeply disappointing.

“For those affected by today’s announcement, they should know that the State will do all that it can in the coming months to assist them as they evaluate new opportunities,” Markell said in a statement.

Following the DuPont-Dow merger the combined company will be named DowDuPont, with a market capitalization of approximately $130 billion.

Read Ed Breen’s memo in full below:

LIKE us on Facebook, or follow us on Twitter.

The IRS Can Now Revoke Your Passport, but You May Need It for Domestic Air Travel Next Year
Red China Suffers Its ‘Most Damaging Case of Treason’ Since 1949