Dow has outlined what it described as “a series of targeted actions aligned to its previously stated plan to achieve $1 billion in cost savings in 2023”. This is divided into $500 million each of ‘structural improvements’ and operating expense reductions. The measures include:

* About 2,000 job cuts to reduce labour and services costs

* Shutting down select assets, while further evaluating the asset base, particularly in Europe

* Increasing productivity via end-to-end process improvements