I am deeply aware that these decisions affect the lives - and families - of many people. I recognize this is a lot of change in a short time and in the New Year you will hear much more from me personally and from the leadership team regarding our strategic direction. In each era, our leaders recognized that change was inevitable to remain successful. As the editor of the firm's annual class action review, Dustin is continually abreast of the most recent and relevant trends affecting companies dealing with potential class action liability.
The company has created countless scientific discoveries and built leading businesses, and we can be proud of the major social and economic impact DuPont has had in the State. I recognize this is a lot of change in a short time and in the New Year you will hear much more from me personally and from the leadership team regarding our strategic direction. I want to reinforce that these decisions were made only after careful and serious deliberation, taking into account every possible alternative, including continuing on our previous path. The planned merger with Dow and intended creation of three strong, independent companies-coupled with our own cost reduction program - has created concerns about our future in Delaware. In a letter to DuPont staff on Tuesday, Chief Executive Ed Breen also sought to soften the holiday blow, announcing that Wilmington, its hometown of years, will be the headquarters of one of three planned spinoffs following the Dow tie-up. Represented and provided coverage analysis to a mutual insurance company with respect to various claims made by policyholders sued for alleged violations of the Telephone Consumer Protection Act. However, as we face a pivotal time unlike any other in our company's history, we have begun a necessary journey down a new path to a stable and secure future for DuPont. Our leadership in these key areas will be the foundation for further growth - in the world, and in Delaware. In each era, our leaders recognized that change was inevitable to remain successful. Drawing on his background as a journalist, Dustin aggressively uncovers the facts of the matters facing his clients and provides timely, clear answers and recommendations to help them effectively achieve their goals. In the end, the Board of Directors and I unanimously agreed that this is the best path to a better, sustainable future for DuPont. As we work through these notifications, we are committed to doing so in a way that is consistent with our Core Values. The effect in Delaware will be significant, reflecting the urgent need to restructure our cost base and, as part of that effort, reduce our corporate overhead costs so that we can remain competitive. Delaware state law required DuPont to file a notice of the layoff plans by Dec. I believe we will build on our history and create a new phase of progress and opportunity for DuPont. I look forward to updating you on our selection progress in the months ahead. Represented company facing class-action ERISA denial of benefits claims, achieving Rule 12 dismissal based on aggressive defensive approach. Along with this sobering news of our Wilmington-area reductions, we fortunately are also able to announce that the corporate headquarters for the combined, post-merger Specialty Products business will remain in Wilmington, Delaware. I am deeply aware that these decisions affect the lives - and families - of many people. Specialty Products will be a technology driven innovative leader, focused on unique businesses that share similar investment characteristics and specialty market focus. Represented and defended a company responsible for the placement and operation of red light traffic cameras in various class action litigations and appeals challenging the use of the cameras. However, by December 31st, we are legally required to file a notice with the Delaware State government detailing the expected local job reductions, and I wanted you to hear the difficult news - directly from me - that approximately 1, Delaware-based positions will be eliminated in the beginning of the year. The effect in Delaware will be significant, reflecting the urgent need to restructure our cost base and, as part of that effort, reduce our corporate overhead costs so that we can remain competitive, he wrote. We have much more work to do with the three independent companies we intend to establish, including selecting the corporate headquarter location for our Agriculture business. The change also reflects the impact of our efforts to move corporate functions into the businesses, closer to our customers.
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