Dow to cut 4,500 jobs, focus on AI and automation

Dow Chemical plans to cut approximately 4,500 jobs as it shifts towards artificial intelligence and automation, incurring severance costs of $600-$800 million and one-time costs of $500-$700 million. This follows significant job cuts announced by other companies, including Amazon and UPS. Consumer confidence in the U.S. economy has dropped to its lowest level since 2014, as businesses reduce workforces amid rising operational costs. Dow’s shares fell 2% ahead of market opening, reflecting broader economic anxieties.