Manufacturing Industry
Dow CEO plans cost-saving cuts.(Dow Chemical Co. being restructured by CEO William Stavropoulos)
Plastics News, December, 2002
Byline: Frank Esposito William Stavropoulos is not wasting any time in his second stint as chief executive officer at Dow Chemical Co. Less than a week after taking over for Michael Parker, Stavropoulos announced plans that could lead to plant closings and job cuts in an attempt to save the Midland, Mich.-based plastics and chemicals giant more than $1 billion in cash flow in 2003.
``This effort is going to be far-reaching, touching every part of the company, and putting everything on the table,'' Stavropoulos said in a Dec. 18 live satellite broadcast to Dow employees. ``The bottom line is, we only spend money on the essentials.'' Dow spokeswoman Rebecca Evans said no details were available regarding impacts on individual business units or plants....
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