Dow Chemical Co. announced Monday that it would slash 5,000 full-time jobs -- about 11 percent of its global workforce -- close 20 facilities in high-cost locations and temporarily idle about 180 plants as a major cost-cutting effort in response to the weakening worldwide economy.
Midland, Mich.-based Dow did not say which plants would be affected. However, the company's downsizing plans will have limited, if any, impact on its operations in Torrance, a company spokesman said.
Dow, which directly or indirectly employs about 80 people at two Torrance locations, previously had planned to close or sell most of its South Bay operations, spokesman Randy Fischback said.
Dow employs 55 people at a site at 305 Crenshaw Blvd., one of the largest plastics production facilities in the Western United States.
Twenty employees will lose their jobs when the Styrofome plant there closed on Aug. 1 of next year, as previously scheduled, Fischback said.
Another 35 employees work at the Crenshaw location as part of a 50-50 joint venture with Chevron Phillips Chemical. The joint venture, known as American Styrenics, was effective on May 1 of this year. That business makes polystyrene, one of the most widely used forms of plastics.
It is unclear how Monday's announcement will affect this joint venture, Fischback said.
During the Crenshaw Boulevard operation's heyday in the 1980s, it employed about 120 people.
Dow's other Torrance location , at 19206 Hawthorne Blvd., is for sale, Fischback said.
Torrance UCAR Emulsion Systems International employs about 25 people, who make latex used in paint. That plant is owned by Union Carbide Corp., which is a wholly-owned subsidiary of Dow.
Earlier this year, Dow said it intended to sell that Torrance business.
"We have prospective buyers," Fischback said.
Even without Monday's announcement, Dow will soon only have its joint venture left in the South Bay.
"Next year, only American Styrenics will be there," Fischback said.
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