Dow is planning to cut approximately 4,500 jobs as the chemicals maker puts more emphasis on using artificial intelligence and automation in its business.
The company said Thursday that it anticipates about $600 million to $800 million in severance costs related to the cuts. Those costs are part of a broader plan aimed at simplifying operations and streamlining.
Shares of Dow, which has about 34,600 employees globally, fell 3% in midday trading Thursday. Dow is based in Midland, Michigan.
In January 2025 Dow executives said the company was seeking $1 billion in cost savings and anticipated cutting about 1,500 jobs worldwide. In July, it announced the closings of three European plants that would eliminate 800 jobs.
Amazon slashed about 16,000 corporate roles on Wednesday — just three months after laying off another 14,000 workers. And United Parcel Service said on Tuesday that it plans to cut up to 30,000 operational jobs this year. And like Dow, Pinterest said this week that it was cutting jobs partially due to increased usage of AI.
Nvidia, Mercedes plot robotaxis
Nvidia Corp. and partner Mercedes-Benz Group AG are pushing ahead with plans to offer robotaxi services in major global cities, using the German carmaker’s S-Class model.
The venture also includes Uber Technologies, according to a statement Thursday. The three companies, alongside others like Stellantis NV, started working together last year on coordinating advanced self-driving technology.
The robotaxi platform will attach to Mercedes’ new MB.OS software, which lets partners build complex applications such as highly automated driving on top of the carmaker’s central operating system.
Nvidia has been pitching its autonomous driving technology, putting the software leader in competition with the likes of Tesla Inc. and current leader Alphabet Inc.’s Waymo.
On Wednesday, Tesla CEO Elon Musk announced Tesla will close down production of two older car models, the S and X, in the second quarter and convert a Fremont factory to produce its Optimus robots instead.
Musk has urged investors to focus on the future of robotaxis ferrying millions in cars without drivers, or even steering wheels, and robots watering plants and taking care of elderly parents.
Gerber recalls arrowroot biscuits
Gerber, the maker of baby foods and other products, is recalling certain lots of its arrowroot biscuits because they might contain pieces of soft plastic or paper and should not be eaten.
The recall includes 5.5-ounce packages of the biscuits, often given to teething babies, with best-by dates between Oct. 16 and Dec. 16, 2026. The plastic and paper pieces came from a supplier of arrowroot flour, who initiated the recall.
No illnesses or injuries have been reported. Consumers should check the back of the packages for the codes of affected lots.
The products can be returned to the place of purchase for a refund, Gerber officials said in a statement.
Mortgage rate ticks higher, still near 3-year low
The average long-term U.S. mortgage rate edged up for the second week in a row to 6.1% from 6.09% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.95%.
Borrowing costs on 15-year fixed-rate mortgages also rose this week, inching up to 5.49% from 5.44% last week. A year ago, it was at 6.12%, Freddie Mac said.
Compiled from Associated Press reports.
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