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Dow Chemical to cut 3% of global workforce

Andrew Liveris, CEO of Dow Chemical at 2015 WEF in Davos, Switzerland.
David A. Grogan | CNBC
Andrew Liveris, CEO of Dow Chemical at 2015 WEF in Davos, Switzerland.

Dow Chemical said it would cut 1,500 to 1,750 jobs, or as much as 3 percent of its global workforce, as part of a broader plan to reduce costs by $1 billion over three years.

The chemical maker said on Monday it would record charges of about $330 million to $380 million in the second quarter ending June for asset impairments, severance and other costs.