Dow Chemical's stock plummeted 5.33% during Thursday's intraday trading session. The sharp decline followed the company's fourth-quarter earnings report and the announcement of a major restructuring plan.

The materials science company reported a widened quarterly loss of $1.48 billion, compared to a $35 million loss a year earlier, as sales fell 9.1% to $9.46 billion. While the adjusted loss of 34 cents per share beat analyst expectations, investors focused on the company's disappointing first-quarter revenue forecast of approximately $9.4 billion, which fell short of the $10.33 billion consensus estimate.

Adding to concerns, Dow announced a sweeping restructuring program called "Transform to Outperform" that will eliminate approximately 4,500 jobs, representing about 13% of its global workforce. The company expects to incur $1.1 billion to $1.5 billion in one-time costs related to the plan. The restructuring comes amid challenging industry conditions including stagnant demand, rising production costs in Europe, and persistent global oversupply in the chemicals sector.