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DuPont To Cut 500 Jobs

April 23, 1998

WILMINGTON, Del. (AP) _ DuPont Co. will eliminate some 500 jobs in its global nylon business, with many of the cuts being made in North America.

The announcement Thursday came the day after the chemical giant reported first quarter profits down 11 percent, largely because of one-time expenses from the shutdown of nylon production plants and employee separation costs.

The company’s fibers operations posted a first quarter decline in net income to $144 million, compared with $233 million a year ago.

DuPont said Thursday the continuing reduction in management and overhead costs in DuPont Nylon was intended to make it more efficient.

A new management approach will focus on the major DuPont Nylon global businesses _ carpet fibers, apparel fibers, industrial fibers and nylon chemical intermediaries.

The company said of the 500 jobs to be eliminated, 65 percent will come from North America, 25 percent from Europe and the remainder split between facilities in Asia and South America.

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