Did you hear?... DuPont Textiles & Interiors announces it will be trimming at least 2,000 jobs

DuPont Textiles & Interiors (DTI) -- nylon fibers, polyester fibers, Lycra brand, CoolMax brand, Cordura brand, Thermolite brand, and spandex -- announced May 1 that it will be trimming at least 2,000 jobs.
Author:
Updated:
Original:

DuPont Textiles & Interiors (DTI) -- nylon fibers, polyester fibers, Lycra brand, CoolMax brand, Cordura brand, Thermolite brand, and spandex -- announced May 1 that it will be trimming at least 2,000 jobs -- representing nearly 10 percent of its global workforce -- with the U.S.-based operations experiencing the deepest layoffs. In a move the company says it anticipates will save DuPont $120 million, the company indicated it would be closing its Terathane PTMEG production unit in Niagara Falls, New York, as well as eliminating under-performing branches of its spandex business based in Waynesboro, Va. These cuts, along with the balance of jobs lost from Europe operations, will be completed by July. Earlier this year, DuPont had announced its intention to establish DTI as a new wholly owned subsidiary by end of year 2003. The company indicated it is continuing to pursue a number of separation options, including an IPO. DTI reported revenues of $6.5 billion in 2001. SNEWS® View: And the hits keep rolling in as U.S.-based textile companies continue to reel under the weight of off-shore competition from off-price textile importers. If the trend continues, U.S.-based textile production will become a relic, with offices existing here only to source fibers and product overseas.

Related

DuPont becomes equity partner of Outlast

DuPont Textiles and Interiors (DTI) and Outlast today announced that the two companies had formed an equity alliance partnership. As part of the agreement, DTI has acquired a minority interest in Outlast. Tim Dummer, the global business manager for DTI overseeing the ...read more

Outdoor: Did you hear?...

>> OIA and Outdoor Retailer are offering a new benefit to OIA members. Beginning with Outdoor Retailer Summer Market, all OIA members will receive a 3 percent discount on exhibit space. Savings on a 20x20 booth space, for example, is more than $400 per year, businesses with 30x50 ...read more

Outdoor: Did you hear?...

>> According to Outdoor i, the UK trade newsletter, The North Face has partnered with the Association of German Mountain and Ski Guides (VDBS e.V). The arrangement involves supplying the instructor team as well as mountain and ski guides of the VDBS, using products from TNF's ...read more

Fitness: Did you hear?...

>> Settling into our seat last week on a flight home from D.C. for National PE Day lobbying (look for our upcoming story the week of May 11), we hear a hustle and bustle at the door. Olympic gold-medalist sprinter and long-jumper Carl Lewis is rushing in at the last second, also ...read more