Dow announced the layoffs, but hasn't actually let a very large number of those 2400 people go. Therefore their cost cutting measures have not yet gone into effect. Interestingly enough, upper management is wondering why they aren't seeing more impact of those cost cuts. Well, if you just say you are going to do something and then don't, you shouldn't expect the results. I aniticpate terrible results when they report the quarter.
Layoffs are never fun for the compony and really painful for employess,to loss a good paying job that you could raise a family on can really be a life crushing event.but it seems to happen to everyone at least once.
I do, and they have been planning the workforce reduction for over a year. It will increase the EPS, decrease the float, increase net profits - for shareholders, it's gain, gain, gain. Admittedly, it's quite another story for someone who was just laid off, but I'm more concerned about my money than their money at this point.