Jan 29 (Reuters) - Dow said on Thursday it would slash about 4,500 jobs in a sweeping restructuring aimed at boosting profitability by at least $2 billion, as the chemicals maker battles persistent weak demand and industrywide structural pressures.
Shares of the company rose 2.2% in premarket trading.
Global chemical companies are being compelled to reassess their strategies in response to stagnant demand, escalating production costs in Europe and increasingly stringent environmental regulations.
Dow, which began a strategic review of some of its European assets in 2024, has also been reevaluating its ownership of non-product producing assets across its global portfolio, including power and steam production and pipelines.
The company expects to incur about $1.1 billion to $1.5 billion in one-time costs tied to the restructuring in 2026 and 2027.
The Michigan-based company reported an adjusted loss of 34 cents per share for the quarter ended December 31, compared with analysts' average estimate of a loss of 46 cents, according to data compiled by LSEG.