Dow (DOW) launches Transform to Outperform to raise the competitive industry benchmark for productivity and growth to enable improved returns; targeting at least USD 2bln near-term Op. EBITDA improvement; to cut around 4,500 jobs
Importance
Level 1
- Actions aim to radically simplify the Company's operating model, streamline its processes, reset its cost structure and modernise how it serves customers.
- Benefits will be accretive to 2025 earnings levels and Dow's previously announced USD 1bln cost savings program.
- The Company anticipates ~USD 1.1-1.5bln in one-time costs associated with Transform to Outperform, including ~USD 600-800mln in severance for ~4,500 Dow roles and ~USD 500-700mln in other one-time costs.
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