Dow To Shut 20 Factories, Slash 5 Percent Of Global Workforce, As Profits, Sales FallThe Dow Chemical Co. will eliminate about 2,400 jobs and close roughly 20 manufacturing plants as part of a restructuring aimed at coping with slowing economic growth in Europe and elsewhere. Dow Tuesday reported sharply lower sales and profits for the third quarter ended Sept. 30, blaming slowdowns in Europe and China.