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DuPont cuts workforce by 10 percent

Wilmington, DE — Looking to reduce costs, DuPont Textiles & Interiors today announced that it's cutting more than 10 percent of its global work force, better than 2,000 employees.

DTI, a division of the DuPont chemical company, expects the cuts to save about $120 million. The majority of the reductions, more than two-thirds, will occur in manufacturing facilities and offices in the United States, with most of the balance taking place in Europe.

Dupont plans to shutter its terathane PTMEG manufacturing unit at Niagara Falls, NY, and less competitive portions of the spandex operation at Waynesboro, VA. The plans call for more than half of the affected employees to leave DuPont by July 31.

DuPont previously announced its plans to create DTI as a new wholly-owned subsidiary and separate it from DuPont by year-end 2003, market conditions permitting. The company is evaluating a range of separation options, including an Initial Public Offering.

In other company news, DuPont Ink Jet has named Brad Peiper global sales and service manager.

Peiper will be responsible for developing worldwide sales and service strategies for the DuPont texiles and ink segments, as well as adapting business strategies to accommodate global customer needs.

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