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
1,500 - 1,750 jobs Number of planned job losses
Announcement Date
4 May 2015
Employment effect (start)
1 June 2015
Foreseen end date
31 May 2017
Description
The US chemical producer Dow Chemical is to cut between 1,500 and 1,750 jobs (3% of its global workforce). The reorganisation is in the framework of a restructuring plan related to its decision to sell a chunk of its century-old chlorine business to Olin Corp for $5 billion. Dow Chemical sold the chlorine business as part of its effort to shift production towards making higher-margin chemical products. The affected sites and countries are not known yet.
Sources
4 May 2015: Reuters
4 May 2015: Dow Chemical (press release)
Citation
Eurofound (2015), Dow Chemical, Internal restructuring in World, factsheet number 83551, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/83551.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
