DuPont to cut costs by billions

Number two US chemical maker, DuPont, said it is planning to announce layoffs on April 27, 2004, the day it releases its fourth-quarter results, as part of an overall plan to trim $900m (€749.53m) in costs by 2005.

DuPont employs 900 people in Derry and is the main supplier of Lycra to customers throughout Europe .With an annual turnover of £300m (€431.02m), the company is one of Northern Ireland's largest exporters.