The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
169 jobs Number of planned job losses
Announcement Date
17 March 2023
Employment effect (start)
17 March 2023
Foreseen end date
31 December 2023
Description
Dow Chemical, an American chemical company, has announced that it will cut 169 jobs at their locations in Terneuzen, Dordrecht and Delfzijl in the Netherlands. Demand for its products has declined as Dow Chemical is unable to compete sufficiently with chemical companies in the United States and Asia, partly due to high energy costs and inflation. Moreover, in order to stop emitting CO₂ by 2050, the company must ensure that they continue to make a profit. As a result, costs need to be cut and the company needs to be downsized. 127 jobs will be cut by direct dismissal, including 100 jobs at the Terneuzen location, 42 jobs will be cut through not filling in vacancies.
The Dow director has promised that there will be a 'good social plan' for the dismissed employees. In January, the American chemical group already announced that it would cut 2,000 jobs worldwide. Additionally, an earlier reorganization in Terneuzen took place in the autumn of 2020, when 170 jobs were cut.
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