Houston Chronicle

Dow Chemical will eliminate about 2,500 jobs

- From staff and wire reports

Dow Chemical says it will eliminate about 2,500 jobs worldwide, or about 4 percent of its workforce, which is tied to the recent restructur­ing of its ownership in Dow Corning.

Dow Chemical will shutter silicone manufactur­ing plants in Greensboro, N.C., and Yamakita, Japan.

The Midland, Mich.based company is also looking to close some administra­tive, corporate and manufactur­ing facilities, but did not give further details on their locations.

IN OTHER NEWS

• The Treasury Department auctioned $31 billion in three-month bills at a discount rate of 0.260 percent, down from 0.270 percent last week. Another $26 billion in sixmonth bills was auctioned at 0.340 percent, down from 0.400 percent. The Federal Reserve said the average yield for one-year Treasury bills edged up to 0.55 percent from 0.53 percent.

• Shigehisa Takada, the chief executive of Takata, said Tuesday he would step down, as the embattled car parts supplier looks to attract much-needed financial support to deal with the fallout from defective air bags and the largest automotive safety recall in history.

• Nestlé has selected health care executive Ulf Mark Schneider as its new CEO, the first chief executive brought in from outside the Swiss company since 1922 as the food and drinks giant seeks to evolve into a nutrition, health and wellness business. Schneider is a 50-year-old German and American dual national.

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