Skip to comments.DuPont cutting 1,500 jobs; profit forecast slashed
Posted on 10/26/2012 7:21:53 PM PDT by advance_copy
DuPont (DD.N) slashed its earnings forecast, reported a lower-than-expected quarterly profit and announced 1,500 job cuts on Tuesday, signs that demand for the chemical company's lucrative paint and solar products is slipping around the world.
Shares of DuPont, a component of the Dow Jones industrial average .DJIA, fell more than 9 percent in midday trading.
The job cuts are one of the more extreme reactions so far this earnings season to slipping demand and global economic uncertainty, and recent data suggest more layoffs could be on the way.
(Excerpt) Read more at reuters.com ...
Man you’re like the Grinch Who Stole The Recovery tonight!
Wonder how many of the laid-off thousands you’ve referred to cast early votes for obama?
Boy, advance - you’re just a fountain of happy news tonight aren’t you ;-) But your posts prove what should be obvious: business investment is locked up, and not only are companies not hiring, but they are shedding cost and jobs in the uncertainty of Obamacare, the fiscal cliff, European instability, and most of all, they possibility of four more years like the last four.
The picture is pretty stark.