DuPont to Cut Work Force by 4 Percent
April 3, 2001
New York (Reuters) -- DuPont Co. says it will cut 4,000 jobs, or about 4 percent of its world-wide work force, while laying off another 1,300 contract workers in response to weak U.S. apparel and textile markets. Nearly half of the job reductions, or roughly 2,000 cuts, will come in the company's nylon and polyester fiber businesses, where it will also shut down some manufacturing lines.
DuPont's troubles come as big retailers have slowed purchase orders, causing inventories to pile up and prices to drop, according to a Reuters news report.