Dow Inc. to cut 4,500 roles, target $2B in operational EBITDA improvement

Dow announced a plan to reset its cost structure. “Transform to Outperform” targets the addition of at least $2B in near-term operational EBITDA. The company anticipates approximately $1.1B-1.5B in one-time costs associated with “Transform to Outperform”, including approximately $600M-800M in severance for approximately 4,500 Dow roles and approximately $500M-$700M in other one-time costs. “Transform to Outperform will drive significant simplification in how work gets done, aimed at ensuring Dow’s continued global leadership,” said Jim Fitterling, Dow chair and CEO. “By leveraging best-in-class, cross-industry processes and leading-edge technologies, this work will further accelerate measures we have already taken to address the prolonged trough and structural industry challenges. Our efforts will build on Dow’s strong focus on safe and reliable operations while driving increased accountability and continuous improvement. This work aims to deliver improved growth, productivity and shareholder returns.”