Still scrambling, DuPont cuts 2, 000 jobs
DuPont said Thursday it will cut another 2,000 jobs as falling orders from the automotive and manufacturing sectors continue to eat away at sales.
''Our objective is not simply to weather the recession and wait for recovery,'' DuPont Chief Executive Ellen Kullman said in a statement Thursday. ''Our goal is to emerge from this global recession stronger, faster and more agile than ever before.''
Consumers have cut way back on spending for everything from cars to houses, striking directly at the heart of the chemical industry. General Motors posted a $6 billion loss for the first quarter on Thursday.
Rival Dow Chemical has cut 10,000 jobs since last fall. Dow was able to post a first-quarter profit only because of its agricultural unit -- which sells seeds and other farming products and has very little to do with the company's core business, according to a May 8 report in The New York Times.