Still Scrambling, DuPont Cuts 2,000 Jobs

Chemical companies had hoped for a stronger start to 2009, but when DuPont announced first-quarter earnings, it warned it would have to cut costs even more to offset plunging sales.

DuPont said a sharp drop in global industrial demand pushed its first-quarter profit down by 59 percent. The company had already announced 2,500 layoffs last fall and said it would eliminate about 10,000 contractor jobs.

"What has happened since December is that the severity has escalated," said spokesman Anthony Farina. "All you have to do is look at our first-quarter report, where volumes were down significantly, to see fundamental shifts in market."

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AP Energy Writer Deborah Jian Lee and AP Energy Editor Charles Sheehan contributed to this report.