DuPont Co. said it will cut about 28 percent of its workforce in its home state of Delaware in early 2016 as the chemical company proceeds with a merger with Michigan’s Dow Chemical Co.
“The effect in Delaware will be significant, reflecting the urgent need to restructure our cost base and, as part of that effort, reduce our corporate overhead costs so that we can remain competitive,” DuPont CEO Ed Breen said in a letter to employees. The cuts will affect 1,700 employees out of 6,100 in the state.
It is not clear yet whether the deal will lead to any job cuts or plant closures at the companies’ automotive units, though the combined entity expects to save about $3 billion within two years of merging.
