Despite Plans For Global Workforce Reduction…Some Bright Spots Still On Horizon For Eastman

Last month, Eastman Chemical Company announced it plans to reduce its global workforce by the end of the year…mainly due to financial side effects of COVID-19. But, thanks to what is being called an aggressive approach to cost management, the huge chemical manufacturer expects those actions to contribute to its earnings per share in 2020. That’s according to a report from Yahoo Financial, who says Eastman is focused on growing new business revenues from innovation, such as the company’s Advanced Materials unit which has a number of products driving new business revenues. Yahoo also says the Kingsport company remains committed to maintaining a disciplined approach to capital allocations and financing its dividend and debt reduction efforts.