Dow to cut about 4,500 Jobs, using AI to boost operations

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Dow Inc. plans to cut about 4,500 jobs as it aims to simplify and streamline operations.

The move is expected to provide at least a $2 billion boost in near-term operating earnings before interest, taxes, depreciation and amortization with a $500 million target this year, Dow said Thursday in a statement. The chemical maker plans to use AI and automation to help.

It sees $1.1 billion to $1.5 billion in one-time costs, including as much as $800 million in severance.

“This work will further accelerate measures we have already taken to address the prolonged trough and structural industry challenges,” Chief Executive Officer Jim Fitterling said.

Dow had 36,000 employees as of December 2024, according to data compiled by Bloomberg.

Dow shares were down about 1.5% in premarket trading.

The chemical company posted an operating loss of 34 cents a share, better than the average estimate of 46 cents. The beat is partially thanks to “self-help measures” the company has taken, Fitterling said in a statement, including its previously announced $1 billion cost-savings program.