DuPont announced this week that it will cut 1,700 jobs from the Wilmington, Delaware area. In a filing with the SEC, the company announced the cuts as part of a broader, 5,000 job downsize as the company prepares to merge with Dow Chemical. The company expects to notify employees by January 4, 2016.
An icon for the Northern Wilmington business community for over 200 years, DuPont has employed generations of Delaware residents. The downsize and merger is part of a global trend of large corporations seeking to increase earnings by consolidation and selling off smaller, specialized business units. Shareholders and activist have been pushing DuPont in recent years to make significant changes to the company balance sheet.
The Brandywine Valley Advisors Group will offer no cost workshops and seminars to those DuPont families that have been affected by this recent news. B Michael Shanley has hosted monthly workshops in the area that help local retirees understand the complexity of social security, pensions, and IRA income strategies. These workshops will focus on how to plan a retirement that can provide guaranteed lifetime income to families, without fear of economic downturn, poor investment returns, and health problems. A schedule of workshops will be released soon.
Please visit www.BrandywineValleyGroup.com for more up-to-date information.