Dow Is Set to Lay Off 2,000 Employees: With First Month Revenues Below Expectations Due to Production Costs Impacting Corporate Economy

Written by Bruno Teles

Published on 28/01/2023 at 11:26

Updated on 28/01/2023 at 11:49

Dow Chemical Company (Foto/divulgação)

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This is what Howard Ungerleider, Vice President Financial of Dow Chemical Company, declared. The problem is that, even with lower inflation, general costs remain quite high and layoffs are a fact.

No company’s economy can withstand the fact that their revenues are below expectations, and for the corporation, there was no other solution: Dow will lay off 2,000 employees. The forecast was announced last Thursday (1/26).

The Dow Chemical Company, known as Dow, is an American corporation for chemical, plastic, and agricultural products headquartered in Midland, Michigan, United States.

One of the causes for the rise in production costs in recent quarters, as well as for various other sectors, is the war between Russia and Ukraine. China’s social isolation measures also rank among the causes, combined with the global economic slowdown.

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Layoff as a Strategy to Overcome the Crisis

Other sectors are also resorting to mass layoffs, which have been used as a mechanism to escape the changes in the economic scenario that point to a global recession, especially considering that the world is still in the recent post-pandemic cycle.

The big techs have been one of those sectors. Layoffs have increased to almost 700%. In companies such as Microsoft, Google, and Spotify, layoffs exceeded tens of thousands of people. Other companies like Coinbase, Flexport, and Salesforce have also announced that they will adopt mass layoff policies.

For all these companies, in addition to the post-pandemic situation, the war between Russia and Ukraine and the disorganization of global supply chains are the causes that justify the layoffs.

Dow Is Set to Lay Off 2,000 Employees: With First Month Revenues Below Expectations Due to Production Costs Impacting Corporate Economy

This is what Howard Ungerleider, Vice President Financial of Dow Chemical Company, declared. The problem is that, even with lower inflation, general costs remain quite high and layoffs are a fact.

Layoff as a Strategy to Overcome the Crisis

I Was Laid Off, What Are My Rights Upon Dismissal? How to Calculate Work Termination

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Dow Is Set to Lay Off 2,000 Employees: With First Month Revenues Below Expectations Due to Production Costs Impacting Corporate Economy

This is what Howard Ungerleider, Vice President Financial of Dow Chemical Company, declared. The problem is that, even with lower inflation, general costs remain quite high and layoffs are a fact.

Layoff as a Strategy to Overcome the Crisis

I Was Laid Off, What Are My Rights Upon Dismissal? How to Calculate Work Termination

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