Chemical industries couldn't remain untouched from the present economic recession which has shown its global presence. Global economic meltdown, started from the US last year has impacted chemical company, industries.
DuPont is launching a restructuring program which will eliminate approximately 2,500 jobs in the U.S. and Western Europe—about 4% of DuPont's workforce. DuPont is one of the biggest chemical companies.
Another chemical firm, US based Dow chemical will cut 5000 jobs and close 20 plants. Dow is one of the worlds biggest chemical maker.
There is less demand of chemicals in one of the large consumer of chemicals, China. This shows how the chemical industries are facing economic hard time.