Dow Inc. sheds 2,000 jobs globally
Yahoo Finance Live anchors discuss news that Dow Inc. has cut 2,000 jobs.
Video Transcript
BRIAN SOZZI: All right, and job cuts are expanding beyond tech. Dow, Inc is the latest to announce layoffs, shedding 2,000 workers globally as it looks to match its cost structure with the current economic environment. The vibe this week, we had 3M earlier in the week, saying they're laying off people on the manufacturing front, Dow now as well. And the vibe continues to be these layoffs are spreading beyond tech.
JULIE HYMAN: Yeah, I mean, they're talking about macroeconomic challenges, just like everybody is talking about here. At the same time, again, this is a larger percentage than at some of the other firms that we're talking about, 2,000 jobs being cut. There are about 35,700 people who work at the firm. So it's a higher percentage, but still not a huge number. It's just this sort of rejiggering at the margins.
And you also have to wonder, as we talk about all these companies, how much of it is for show, for lack of a better word? Not sort of the bigger cuts, but like, how much of it is throw a bone to the Street, we're cutting costs, we're acting-- you know, we're being proactive in this environment.
BRAD SMITH: Part of it it's the timing around it, too. This is the time of year where we'd typically come after some of the end of year reviews, things of that nature internally. However--
[BUZZER]
--for all of this to be kind of delivered at the same time, it's not just all end of the year reviews at these companies.
JULIE HYMAN: Right.
