DuPont Expects Loss in Fourth Quarter, Cuts Jobs

Wilmington, DE, Dec. 4, 2008--Chemical maker DuPont said on Thursday it expects to post a fourth-quarter loss and will cut 2,500 jobs as a steep drop in construction, car sales and consumer spending hurt its business.
 
The slump in the U.S. automotive markets has hurt DuPont badly, as it is one of the largest suppliers of paints to automakers. The company has also been hurt by the collapse in the U.S. housing market, as it supplies chemicals used in home building, including floorcovering.

The freeze in the global credit markets, a recession in many developed economies and a sharp slowdown in many emerging regions have further crimped growth for DuPont.