DuPont To Cut 1,500 Jobs

DuPont job cuts
DuPont job cuts



By Randall Chase


DOVER, Del. (AP) - Chemical maker the DuPont Co. will cut 1,500 jobs and take other steps to increase competitiveness after a third quarter in which earnings fell sharply.

The Wilmington, Del.-based company reported net income of $10 million Tuesday, or a penny per share, compared with $452 million, or 48 cents per share, for the same period last year. Excluding one-time items, DuPont earned 44 cents per share, compared with 69 cents per share for last year's third quarter.

The results fell short of the average estimate of 46 cents per share, and Dupont's stock slid 4 percent in premarket trading.