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道化工亚省工厂将裁员' m) \4 M! x( P! R4 ~2 q
Dow Chemical's Alberta facilities will see layoffs8 |* Q, |4 @; W1 N
7 k$ ?0 C7 W# w. o6 y, }EDMONTON — Some employees at Dow Chemical’s Alberta facilities have been notified they will be laid off but the full extent of the job cuts won’t be known until late next week, a company spokesperson said Wednesday.6 t" X- {$ x" z! e
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Mary-Lea Crawford, public affairs manager for Dow at Fort Saskatchewan, would not say how many layoff notices have been handed out so far. : J6 R& R% \/ T/ M. m; X
( Z+ @' b/ _" r9 L& u; b$ ^The cuts are not expected to be as deep as the 11-per-cent target announced by the U.S.-based company in December, she said.
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* M/ O- E. O6 Y7 XDow employs about 630 people in Alberta, with 550 in Fort Saskatchewan with the balance at its Prentiss facility near Red Deer.
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Dow posted weaker-than-expected fourth-quarter results on Tuesday because demand has plummeted in markets such as the construction, electronics and automotives.1 N- f K6 c. Q5 M# d% {' d9 s
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Dow has tried to revamp its earnings profile over the past two years, first by announcing plans to sell a 50- per-cent stake in its cyclical basic plastics business to Kuwaiti investors for more than $9 billion. Then, in July, it announced plans to spend more than $15 billion to acquire Rohm and Haas using proceeds from the joint venture.
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Dow’s plans faltered when Kuwait backed out of the joint venture. Rohm and Haas said its merger agreement with Dow, was not contingent on the Kuwait transaction. T! f7 k7 @% ~6 y3 Q
9 x) [4 O, W. L3 ?$ z4 PPhiladelphia-based Rohm and Haas sued Dow in a bid to force the deal to close. Dow filed its response to the lawsuit on Tuesday.( [- D8 o2 [( w' l( N7 M
% n: R+ H1 I0 b1 y' k YDow argued the agreement was not binding, because it was impossible to carry out “without jeopardizing the very existence of both companies.” |
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