By Matt Grossman

Dow Inc. said Thursday its response to the coronavirus pandemic would include a sharper focus on cost reduction.

The materials company said it is raising its target for operating-expense reductions to $500 million, from $350 million.

The company said is cutting its workforce by 6%. The program aims to add more than $300 million to earnings before income, taxes, depreciation and amortization by the end of 2021. Dow said it would also exit uncompetitive assets.

"Based on what we've seen in the second quarter and into July, we continue to expect a gradual and uneven recovery," Dow Chairman and Chief Executive Jim Fitterling said. 



  Write to Matt Grossman at matt.grossman@wsj.com