Chemours is trimming its workforce in preparation for a spin-off from DuPont Co.
Spokesman Dan Turner issued the following statement.
“Chemours announced a restructuring plan to reduce and simplify its cost structure. Chemours will eliminate selected roles across its global workforce as a result of this plan.”
Turner would not provide any further details on the extent of the staff reductions and other steps that will be taken at Chremours. Chemours will operate as a separate company when it is spun off from DuPont.
The News Journal reported the cuts would affect between five and seven percent of the total workforce of Chemours, which has about 1,200 employees in Delaware and 9,000 worldwide.
Reports surfaced this week of job loss notices being issued by the company. Large-scale job losses in Delaware often come with conversations with elected officials and more detailed information.
Gov. Jack Markell’s office did not immediately respond to a request for comment on the news.
Chemours is the former Performance Chemical Business of DuPont. Chemours will be headquartered at the former DuPont headquarters in downtown Wilmington.
DuPont is moving its headquarters to the Chestnut Run Plaza site just outside the city.
Chemours recently announced a board of directors and a financing package for its operations after the spin-off.
Cost reductions were a key part of the agenda of activist investor Nelson Peltz, who was unsuccessful in his efforts to get on the DuPont board of directors.
In the end, shareholders decided the measures taken by CEO Ellen Kullman were sufficient, although Peltz came within shouting distance of getting a seat on the board.
The other three members of the slate from Peltz’s Trian Fund Management fell far short of being elected.
DuPont had earlier nominated two directors and former CEOS with experience in company restructuring efforts
Kullman has vowed to transform DuPont by focusing more intensely on fast-growing businesses.
Peltz had sought further sell-offs of DuPont businesses and further simplification of the company’s structure.
