Dow (DOW) said Thursday it plans to eliminate roughly 1,500 positions globally as part of its $1 billion cost-cutting measure.
Under the plan, the company intends to cut direct costs by $500 million to $700 million, mostly focused on purchased services and third-party contract labor, it added.
Dow said it will report a charge of $250 million to $325 million in Q1 for expenses associated with these activities.
Shares of Dow were up 2.4% in recent Thursday premarket activity.
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