An Amazon Go store in New York, US, on Tuesday, Jan. 27, 2026.Layoff plans hit their highest January total since the global financial crisis while hiring intentions reached their lowest since the same period, outplacement firm Challenger, Gray & Christmas reported Thursday.U.S. employers announced 108,435 layoffs for the month, up 118% from the same period a year ago and 205% from December 2025. The total marked the highest for any January since 2009, while the economy was in the final months of its steepes ...

Group 1 - U.S. employers announced 108,435 layoffs in January 2026, marking a 118% increase from January 2025 and a 205% increase from December 2025, the highest January total since 2009 [2][5] - Companies reported only 5,306 new hires in January 2026, the lowest figure for that month since 2009, indicating a significant decline in hiring intentions [2][5] - The transportation sector experienced the highest level of layoffs, primarily due to UPS's plan to cut over 30,000 jobs, while Amazon announced a reduction of 16,000 jobs, mainly at the corporate level [5] Group 2 - The Challenger data suggests a shift in the labor market, with increased layoffs indicating that employers are less optimistic about the economic outlook for 2026 [3] - Initial jobless claims for the week ending January 24 were reported at 209,000, with a longer-term trend near its lowest level in two years, contrasting with the layoff announcements [4] - Over 100 companies have notified the Labor Department of significant layoffs under Worker Adjustment and Retraining Notification regulations, highlighting the scale of job cuts [6]

Labor Market Overview - The labor market is facing challenges as major companies announce significant layoffs, with Amazon planning to cut about 16,000 corporate roles and UPS announcing 30,000 job cuts [1][8] - Dow has reduced its workforce by approximately 4,500 jobs, representing about 12% of its total employees, while Home Depot and Nike have also made smaller cuts [1] AI and Employment Concerns - A Reuters/Ipsos poll indicates that 71% of Americans are concerned that artificial intelligence could permanently replace their jobs [2] - Despite the fears surrounding AI, researchers suggest that the majority of layoffs are driven by federal workforce cuts, economic conditions, and company closures rather than AI [3][5] Layoff Statistics - In 2025, there were 1.2 million layoffs, with AI being blamed for fewer than 55,000 of those, which is about 4.5% [7] - Economic conditions accounted for 253,000 layoffs, while company closures led to another 191,000 job losses [7] AI's Role in the Workplace - Research indicates that when AI is implemented in jobs, it is often used as a tool rather than a replacement for human workers [9] - The success rate of AI-assisted tasks declines significantly for complex work, highlighting the need for human oversight [9] AI-Washing Phenomenon - Analysts suggest that some companies may be "AI-washing" layoffs, using AI as a scapegoat to divert attention from deeper organizational issues [10][11] - The term "AI-washing" refers to the practice of rebranding layoffs as part of an AI strategy to present a more favorable narrative [10] Long-Term Impact of AI - The Yale Budget Lab posits that the transformative effects of AI on the labor market may take years, similar to the historical impacts of computers and the internet [12]

Key Takeaways The Dow Easily Outpaced Tech-Heavy Indexes TodayAlphabet Posted Huge Q4 Numbers, ELF Crushes EstimatesServices PMI Gained in JanuaryWednesday, February 4th, 2026Stock market rotation out of software and tech in general was on clear display today, with the tech-heavy Nasdaq and Nasdaq-exposed S&P 500 hitting the closing bell lower by -1.51% and -0.51%, respectively. The small-cap Russell 2000 fell -0.67% on the day. The Dow is up +0.9% over the past five trading days; the other three indexes ar ...

Group 1 - The packaging industry is experiencing significant layoffs, particularly among manufacturers specializing in plastics, but other material handlers are also affected [1] - International Paper plans to close at least seven facilities in Europe, the Middle East, and Africa, resulting in a reduction of at least 700 employees by 2026 [2] - Dow is laying off 4,500 employees, approximately 13% of its workforce, as part of a cost-cutting initiative, with a noted 11% year-over-year decline in packaging and specialty plastics sales volumes in Q4 2025 [2] - Sealed Air is permanently closing a facility in City of Industry, California, affecting 51 employees, with separations occurring in phases starting around April 30 [2] - Tekni-Plex is closing a facility in Milwaukee, impacting 39 employees, with separations scheduled from March 27 through April 30 [2] - Waddington North America, a Novolex company, is permanently closing a plant in Bremen, Georgia, affecting 49 employees, with separation dates from March 31 to May 29 [2]

We came across a bullish thesis on Dow Inc. on r/valueinvesting by ValueContrarian101. In this article, we will summarize the bulls’ thesis on DOW. Dow Inc.'s share was trading at $27.16 as of January 28th. DOW’s trailing and forward P/E were 32.65 and 13.61 respectively according to Yahoo Finance. ASP Isotopes (ISP) Loses 5% as Exec Unloads Stake Syda Productions/Shutterstock.com DOW Inc., a leading global chemical company with production facilities and customers worldwide, is trading at multiyear lows ...

Business Segments - The Company operates through six global business segments, including Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings[31]. - The Packaging & Specialty Plastics segment utilizes a broad polyolefin product portfolio and proprietary technologies to deliver sustainable solutions across various markets, including food packaging and health[32]. - Hydrocarbons & Energy is a leading global producer of ethylene, propylene, and aromatics, which are essential for the Company's derivative businesses[35]. - Industrial Solutions provides a broad portfolio of solutions that enhance manufacturing processes across various end-markets, including coatings and electronics[46]. - The Polyurethanes business is the world's largest producer of propylene oxide, propylene glycol, and polyether polyols, serving various end-markets including automotive and building insulation[48]. Sustainability Initiatives - The Company aims to commercialize 3 million metric tons of circular and renewable solutions annually by 2030 as part of its sustainability strategy[41]. - The world's first net-zero integrated ethylene complex in Alberta, Canada, is expected to decarbonize 20% of the Company's global ethylene capacity while delivering 2 million metric tons of organic growth[42]. - The Company continues to collaborate with Mura Technology to advance circularity through recycled plastics and has invested in advanced recycling initiatives[42]. - The Polyurethanes & Construction Chemicals business commercialized low-carbon offerings under the Decarbia portfolio, achieving decarbonization potential of 40% to 90% depending on product grades[59]. - The Company is committed to achieving carbon neutrality by 2050, including all scopes of emissions and product benefits[95]. - By 2030, the Company aims to reduce its net annual Scope 1 and 2 CO2 emissions by 5 million metric tons, representing a 15% reduction from 2020 levels[95]. - Over 90% of the Company's growth investments in product innovation deliver sustainability benefits, particularly in the Coatings & Performance Monomers business[69]. - The Company is focused on advancing a circular economy by transforming materials usage and extending their life cycle[84]. Financial Performance and Strategic Decisions - The Company recognized a $303 million pretax impairment charge related to assets in Latin America, including $71 million for Packaging & Specialty Plastics[45]. - The strategic review in 2025 will lead to the shutdown of an ethylene cracker in Böhlen, Germany, by the end of 2027 to optimize the global asset footprint[44]. - The company recorded a goodwill impairment charge of $690 million for the Polyurethanes & Construction Chemicals reporting unit due to lower fair value[58]. - The Company plans to shut down certain CAV assets in Schkopau, Germany, by the end of 2027 as part of a strategic review to optimize its global asset footprint[57]. - The Company will shut down its basics siloxanes operations in Barry, UK, by mid-2026 to optimize margins and reduce energy-intensive operations[71]. - The Company continues to align investment spending with cash flows and strategic priorities to enhance competitiveness and increase mid-cycle earnings[56]. Capacity Expansion and Innovation - A new polyethylene unit on the U.S. Gulf Coast was completed in 2025 to meet demand in specialty packaging and health applications[42]. - In 2025, the company expanded propylene glycol capacity in Thailand by 80,000 metric tons per year, bringing total capacity to 250,000 metric tons per year, the largest in the region[54]. - The Industrial Solutions business increased global alkoxylation capacity by 70% compared to the 2020 baseline, supporting demand in fast-growing markets[55]. - Investments in sustainable barrier coatings for food and beverage packaging are underway, addressing market needs in high-performance computing and electric vehicle electronics[67]. - The company is focused on expanding manufacturing capacity and efficiency in the Coatings & Performance Monomers and Consumer Solutions businesses to enhance competitiveness[68]. Employee Engagement and Safety - As of December 31, 2025, Dow employed approximately 34,600 full-time employees[107]. - In 2025, 61% of Dow's workforce and 96% of Dow's people leaders participated in at least one Employee Resource Group (ERG)[99]. - The annual employee opinion survey in 2025 had a response rate of 64%, providing insights into workplace culture and employee satisfaction[105]. - The Company has achieved an Occupational Safety and Health Administration Total Recordable Injury and Illness Rate of 0.20 in 2025, indicating strong safety performance[94]. - Dow has conducted global pay disparity studies for over 20 years to ensure fair treatment between genders and ethnic minorities[100]. - The Total Rewards programs are designed to attract, retain, and motivate employees, aligning with their compensation, health, and career needs[101]. - Dow's inclusion strategy is supported by three Inclusion Councils and aims to enhance employee engagement and satisfaction[102]. Risk Management - The Company's total daily Value-at-Risk (VAR) increased from $162 million at December 31, 2024, to $182 million at December 31, 2025[404]. - The interest rate VAR decreased to $114 million in 2025, while equity securities VAR increased to $16 million due to higher volatility[404]. - The Company uses hedging transactions to manage market risks related to foreign exchange rates, interest rates, and commodity prices[397]. - Dow's primary foreign currency exposures are in European currencies, Chinese yuan, Japanese yen, Thai baht, and Argentinian peso[398].

Core Insights - 2025 was a challenging year for chemical companies Dow and LyondellBasell, with both experiencing a stock decline of 41.7% [1] - The outlook for 2026 appears more positive, with both companies showing a year-to-date increase of over 15% and the materials sector performing well [1][2] Company Performance - Dow and LyondellBasell produce essential commodity chemicals used in various applications, including packaging and industrial goods [4] - Both companies are facing challenges due to supply outpacing demand, intense competition, and slowdowns in key markets such as consumer goods and automotive [5] - Dow's earnings and margins are at multiyear lows, but the company is implementing cost-saving measures and expects to deliver $500 million in savings by year-end [6][7] - LyondellBasell anticipates $600 million in cash improvements for 2025, with a total of $1.1 billion expected by the end of the year [8] Financial Strategies - Dow is cutting costs by reducing its workforce by approximately one-eighth and has implemented a $1 billion cost-saving program [7] - Dow has also improved its balance sheet through asset sales and has reduced its dividend by half [7] - LyondellBasell has not cut its dividend, resulting in a higher yield compared to Dow, while also engaging in asset sales and project cancellations to improve cash flow [8]

（来源：中国化工信息周刊） 关键词 | 陶氏公司 财报发布共 1266 字 | 建议阅读时间 3 分钟 陶氏公司近日发布2025年第四季度财报： 来源：市场资讯 净销售额为95亿美元，同比下降9%，所有运营板块均出现下滑。净销售额环比下降5%，主要是正常季 节性影响导致的本地价格和销量下降所致。 销量同比下降2%，主要由包装与特种塑料运营板块的下滑所致，这一变化源于欧洲、中东、非洲和印 度（EMEAI）一套裂解装置停运后，该地区烯烃销量下降。销量环比下降2%，主要由于建筑与建材领 域的正常季节性因素影响。本地价格同比下降8%，环比下降3%。 按公认会计原则（GAAP）计算，净亏损为15亿美元。经营性息税前利润（Op. EBIT）为3,300万美元， 同比下降4.21亿美元，主要受价格下降和开工率降低影响，但部分被公司成本削减计划带来的积极作用 所抵消。经营性息税前利润环比减少1.47亿美元，主要由于利润率收窄和季节性需求走弱，但部分被固 定成本下降所抵消。 GAAP 每股亏损为2.15美元；经营性每股亏损0.34美元，上年同期为0.00美元，上一季度每股亏损0.19美 元。经营性每股收益不包括每股合计1.81 ...

Core Viewpoint - Dow Chemical has announced a "Transform to Outperform" restructuring plan aimed at increasing EBITDA by at least $2 billion (approximately 139 billion RMB) and cutting about 4,500 jobs, aligning with a previously announced $1 billion (approximately 69.5 billion RMB) cost-saving initiative for early 2025 [1][3]. Group 1 - The "Transform to Outperform" plan will be implemented over three years, targeting an additional $500 million (approximately 34.8 billion RMB) in EBITDA by 2026, with an investment of $800 million to $1 billion (approximately 55.6 billion to 69.5 billion RMB) [3]. - For 2027, the plan aims for an additional $1.2 billion (approximately 83.4 billion RMB) in EBITDA, with an expected investment of $300 million to $500 million (approximately 20.9 billion to 34.8 billion RMB) [3]. - The 2028 target includes an additional $300 million (approximately 20.9 billion RMB) in EBITDA, with no associated costs [3]. Group 2 - Dow Chemical's CEO, Jim Fitterling, emphasized that the plan will significantly simplify operational processes and ensure the company's continued industry leadership by leveraging top-tier processes and cutting-edge technologies [3]. - The restructuring is expected to incur one-time costs of $1.1 billion to $1.5 billion (approximately 76.5 billion to 104.3 billion RMB), including $600 million to $800 million (approximately 41.7 billion to 55.6 billion RMB) in severance costs related to the job cuts [3]. Group 3 - Dow Chemical's financial performance for 2025 showed a significant decline, with net sales dropping 7.0% to $39.97 billion (approximately 277.8 billion RMB) [4]. - The company reported a net loss of $2.44 billion (approximately 170 billion RMB) for 2025, a stark contrast to a profit of $1.2 billion (approximately 83 billion RMB) in 2024 [4].