DuPont to Cut Work Force, Take Other Restructuring Actions
WILMINGTON, DE - DuPont Co. announced plans for a major restructuring program that will include employment reductions and other moves aimed at generating $450 million in cost savings this year and $900 million in savings in 2005.
The company said the plan includes actions aimed at generating annual revenue growth of 6%, a target DuPont said represents a "key objective in its ongoing transformation to become a sustainable growth company." The company said specifics of the program would be disclosed in early 2004.