dupont cuts 1500 jobs. http://www.wave3.com/story/19888892/...01631069971551
DuPont to cut 1,500 jobs after 3Q profit slide
Posted: Oct 23, 2012 6:52 AM EDT
Updated: Oct 23, 2012 6:52 AM EDT
The Wilmington 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.
Revenue totaled about $7.4 billion, down 9 percent from $8.1 billion.
CEO Ellen Kullman said weaker than expected demand in titanium dioxide and photovoltaic markets contributed to the decline.