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道化工亚省工厂将裁员
3 Q8 K/ B. R2 y! C$ P nDow Chemical's Alberta facilities will see layoffs
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6 D, }/ ^$ ] A6 o$ W8 q1 lEDMONTON — 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.- P# a$ f' d! _4 [" C
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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.
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; N+ l+ r U' H% x7 v: MThe 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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- B( n; ~2 J. G3 h( rDow 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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8 z1 a( c$ C L( ^Dow posted weaker-than-expected fourth-quarter results on Tuesday because demand has plummeted in markets such as the construction, electronics and automotives.
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; e5 T. t Y2 n' h! d: o( `8 w, x* dDow 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 $15 billion to acquire Rohm and Haas using proceeds from the joint venture.
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8 Z) v7 A" ?8 d5 v& WDow’s plans faltered when Kuwait backed out of the joint venture. Rohm and Haas said its merger agreement with Dow, was not contingent on the Kuwait transaction.
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0 Y" e$ ], _5 a& f& ~+ RPhiladelphia-based Rohm and Haas sued Dow in a bid to force the deal to close. Dow filed its response to the lawsuit on Tuesday.6 c' R5 P( u' ?4 D
( _0 U* u; B- |' y' x, ODow 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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