Dow Inc. announced a cost-cutting plan that includes eliminating about 1,500 positions in its global operations.

Officials with Midland-based chemical company Dow have announced plans to reduce the company’s global workforce by about 1,500, or about 4%, but the local impact is unknown.

By Tanay Dhumal (Reuters) -Dow said on Thursday it will lay off 1,500 employees as part of its $1 billion cost savings plan due to lackluster demand and margin pressures, causing its shares to drop 6.