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The News
Journal (Wilmington, DE)
August
6, 2004 Friday
Job elimination Chronology
TED GRIFFITH, Staff
CHRONOLOGY;
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1974-79: To boost profits, DuPont
cuts research and development staff by 20 percent. |
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1981: DuPont buys Conoco, the
world's ninth-largest oil company, for $7.8 billion. The company's worldwide
employment peaks at 181,000. |
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1985: DuPont's employment in
Delaware reaches a peak of 26,600, but major cost-cutting begins. DuPont
offers early-retirement packages, and about 11,500 workers ultimately
accept. |
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1991: DuPont announces a $1
billion two-year cutback program. Although all businesses are affected, the
reductions are targeted primarily at what the company calls support services.
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1993: DuPont unveils
reorganization plan to become more efficient, leading to 5,800 job cuts
worldwide. |
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1997: DuPont buys 20 percent
interest in Pioneer Hi-Bred International Inc. of Des Moines, Iowa, a corn and
soybean seeds products company, along with Protein Technologies International
Inc., a soy protein producer. |
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1998-1999: DuPont sells Conoco
to shareholders as part of a long-range plan to expand from chemicals into
biotechnology, agriculture and pharmaceuticals. Feb. 1, 1998: Charles O.
Holliday Jr. becomes chief executive. |
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Oct. 2, 2001: DuPont completes
the sale of its pharmaceutical business to Bristol-Myers Squibb for $7.8
billion. Credit-card giant MBNA Corp., with about 10,500 workers,
surpasses DuPont, with just under 10,000 workers, as the state's
largest private-sector employer. |
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Nov. 17, 2003: DuPont says it
will sell Invista, its nylon, polyester and lycra business, to Koch Industries
Inc., a Wichita, Kan.-based commodities conglomerate. Invista employs about
1,200 in Delaware and 18,000 worldwide. |
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Dec. 1, 2003: DuPont announces
plans to cut $900 million by the end of 2005 as it moves to "shift the center
of gravity" to overseas markets. |
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April 12, 2004: DuPont
announces 3,500 job cuts in North America and Europe, including 650 jobs in
Delaware. |
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