Dow Water Solutions News: The Dow Chemical Company’s Union Carbide Subsidiary Announces 2004 Year-End Employment Numbers for West Virginia Operations

The Dow Chemical Company’s Union Carbide Subsidiary Announces 2004 Year-End Employment Numbers for West Virginia Operations

South Charleston, W.VA - February 02, 2005

The Dow Chemical Company’s Union Carbide subsidiary today released 2004 year-end employment numbers for West Virginia Operations. Allan Fowler, vice president, West Virginia Operations, summarized employment numbers as follows:

In April 2004, Dow announced an approximate 3,000 job reductions worldwide as part of the company’s restructuring efforts – representing about 7 percent of the global Dow workforce. All Dow locations worldwide, including West Virginia Operations, completed rigorous staffing assessments to define business, functional, and geographic competitiveness.
As a result, approximately 147 employees at West Virginia Operations left the company in 2004 – representing about 12.5 percent of the total WVO workforce. Most employees left the company by the end of July, with the remainder transitioning out by the end of the year.
All impacted employees were offered severance packages, with more than half of these employees being retirement eligible. Five employees transferred into West Virginia Operations from other Dow locations in 2004.
Seventeen employees transferred from West Virginia Operations to other Dow locations in 2004.
Total 2004 year-end workforce at West Virginia Operations was 1,024 employees.

Fowler said that while business conditions improved throughout 2004, oil and natural gas prices remained problematic. “This required that the company remain focused on cost savings initiatives and controlled spending in anticipation of business volatility in the future,” he said.

“Our primary focus at West Virginia Operations is to continue to improve our competitive position,” said Fowler. “Improving our cost structure is critical to the sustainability of our current business base and future growth opportunities.”

Dow is a leader in science and technology, providing innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $40 billion, Dow serves customers in 175 countries and a wide range of markets that are vital to human progress: food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow and its 43,000 employees seek to balance economic, environmental and social responsibilities. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. Union Carbide Corporation is a wholly owned subsidiary of The Dow Chemical Company.

For More Information:
Elizabeth (Nikki) Smith
The Dow Chemical Company
West Virginia Operations
Office: (304) 747-2132


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