About Dow Corning
News and Upcoming Events
Dow Corning responds to global economic volatility
Company intends to reduce global employment by approximately 500
Midland, Mich. (U.S.): Dow Corning Corporation announced
today it intends to reduce global employment by approximately 500 people in the
coming weeks - mostly in the professional ranks of the company – through an
involuntary separation program. The actions are designed to better align the
company's cost structure with the realities of today's volatile global
Dow Corning, a leading developer and manufacturer of silicon-based
materials, currently employs approximately 12,000 people globally. The company
is facing significant challenges including oversupplied markets, high raw
materials costs and slowed growth in many regions.
Comments from Robert D. Hansen, Dow Corning president and
"Our company's greatest asset is our people and this is a difficult
decision to have to make. We are taking steps to ease the transition of
affected employees and understand there are a lot of talented, hard working
people leaving our team."
"Dow Corning has added significant professional capability and
resources in support of expected and sustained growth in recent years. Since
that growth didn't materialize as expected, it was necessary to re-evaluate
those investment decisions given the state of the global economy."
"Our strategy for long-term success is robust and our foundation is
financially strong. However, we must strengthen our ability to maintain our
competitive position in the marketplace and our ability to deliver innovative
products for our customers."
About Dow Corning
Dow Corning (dowcorning.com) provides
performance-enhancing solutions to serve the diverse needs of more than 25,000
customers worldwide. A global leader in silicones, silicon-based technology and
innovation, Dow Corning offers more than 7,000 products and services via
the company's Dow Corning® and
Dow Corning is equally owned by The Dow Chemical Company and Corning,
Incorporated. More than half of Dow Corning's annual sales are outside the
United States. Dow Corning's global operations adhere to the American
Chemistry Council's Responsible Care® initiative, a stringent set of
standards designed to advance the safe and secure management of chemical
products and processes.
Follow Dow Corning on Twitter: www.Twitter.com/dowcorning
Visit Dow Corning's YouTube channel: www.YouTube.com/dowcorningcorp