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Dow Chemical About 4,500 are being cut Position As chemical manufacturers put more emphasis on using AI and the automation of its operations.
The company said Thursday it expects severance costs related to the layoffs to be about $600 million to $800 million, part of a broader plan to streamline operations and streamline operations.
Shares of Dow, which employs about 34,600 people worldwide, fell 2% before the market opened. Dow Chemical is headquartered in Midland, Michigan.
In January 2025, Dow executives said the company was seeking $1 billion in cost savings and expected to cut about 1,500 jobs worldwide. In July, the company announced the closure of three European factories, which would result in the loss of 800 jobs.
Thousands of layoffs were announced this week after a frustrating year for American job seekers.
Amazon cuts about 16,000 corporate jobs Wednesday – just three months after laying off another 14,000 workers. United Parcel Service said Tuesday it plans to cut as many as 30,000 operating jobs this year.
Like Dow Chemical, Pinterest said this week that it was cutting jobs in part due to increased use of artificial intelligence.
Home Depot also announced 800 jobs were laid off this week.
Americans are increasingly anxious about the possibility of finding a job or a better job. Economists say businesses are essentially in a “don’t hire, don’t fire” standstill. Hiring has been stagnant overall – the country added just 50,000 jobs last month, down from a revised figure of 56,000 in November.
The rise in operating costs comes with layoffs in some industries, and business leaders point to rising costs, including from President Donald Trump’s tariffs and spending changes.
Consumer expectations for the U.S. economy have dropped to their lowest level since 2014. This comes as some businesses shift funding toward AI (often as part of a broader corporate restructuring), reducing their workforce.