The deep cuts, which will cost Dow $700m this year and are intended to yield a similar level of costs savings by 2010, underline the pain felt by manufacturers caught between the credit crunch and the sharp economic slowdown.
Over the past few weeks, several multinationals, including the chemical group DuPont and the conglomerate 3M, have slashed jobs and cut costs.
The measures announced by Dow, a bellwether of global industry, will deepen fears over rising unemployment in the US and Europe.
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