MIDLAND, Mich. (Feb. 26, 2008)—Dow Corning Corp. said it plans to eliminate about 800 jobs globally in response to current economic challenges.
Layoffs and voluntary retirement programs will take place primarily during the first half of the year, the company said.
These actions are part of broader cost-saving measures taken by the company, including maximizing operational efficiency and tightly controlling expenses.
Stephanie A. Burns, Dow Corning chairman, president and CEO, said the steps are difficult but necessary to meet the challenges of today to be ready for the future, when the economy recovers.
She said the company will continue to support strategic investments in such areas as solar energy and its Hemlock Semiconductor Group joint ventures. Hemlock will not implement the involuntary work force reduction, Burns said.