Dow Chemical Co. says it will cut 5,000 jobs, or about 11% of its workforce; close 20 plants and idle 180 facilities; reduce the number of contractors it hires by about 6,000, or 30%; and attempt to sell several businesses in response to the global economic crisis. Dow estimates the measures will save $700 million annually by 2010. Citation Corp. is awarded $200 million in new business over five years to supply Akebono Brake Corp. with ductile iron castings for a variety of new-vehicle ...
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