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Posted: 10:24 AM Dec 4, 2008
DuPont to Cut 2,500 Jobs, Trim 4,000 Contractors
DuPont Co. says it will cut 2,500 jobs, mostly serving the U.S. and European automotive and construction markets, due to lower demand linked to the steep global decline in homebuilding, auto sales and consumer spending. Reporter: Associated PressEmail Address: news@wsaz.com |
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WILMINGTON, Del. (AP) - DuPont Co. says it will cut 2,500 jobs, mostly serving the U.S. and European automotive and construction markets, due to lower demand linked to the steep global decline in homebuilding, auto sales and consumer spending.
The Wilmington, Del.-based chemicals maker also says it will trim 4,000 contractors by the end of this year.
DuPont is forecasting a 2008 fourth-quarter loss of 20 cents to 30 cents per share, excluding restructuring charges of about 40 cents per share. The company expects 2009 earnings to range between $2.25 and $2.75 per share.
Analysts surveyed by Thomson Reuters currently predict quarterly profit of 23 cents per share and fiscal 2009 earnings of $2.80, on average.
DuPont has two West Virginia operations, located in Belle and near Parkersburg.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
