Recently, Dow, the American chemical giant corporation, released a report that the company's profit in the fourth quarter of 2022 was lower than Wall Street's expectation due to factors such as rising energy costs, weak demand and supply chain disruption. The announcement indicates that about 2000 people would be laid off globally, in addition to closing some factories, reducing the purchase of raw materials and reducing logistics and water and electricity costs. Jim Fitterling, chairman and chief executive officer of Dow Chemical, said, "We are taking these actions to further improve our cost structure and adapt our business to the most competitive, lowest cost and fastest growing market, while dealing with macroeconomic uncertainty and challenging energy market, especially in Europe."
