Dow is planning to cut approximately 4,500 jobs as the chemicals maker puts more emphasis on using artificial intelligence and automation in its business

Thursday, Dow reported a fourth-quarter per-share loss of 34 cents from sales of $9.5 billion. Wall Street was looking for a 46-cent loss from sales of $9.5 billion.

Dow's announcement comes after several other large corporations, from Amazon to UPS, said they plan to cut jobs.

The Dow Jones Industrial Average missed out on a stock market rally Tuesday thanks in large part to one very influential component of the 30-stock index.

Jan 29 (Reuters) - Dow will slash about 4,500 jobs, or 13% of its total workforce, under a sweeping restructuring aimed at boosting profitability by at least $2 billion, while projecting first-quarter revenue below expectations on stubbornly weak demand.

Only one of the five largest publicly traded companies by market cap isn't currently part of the Dow -- and that appears likely to change in the new year.

"The goal of Transform to Outperform is to achieve significant growth and productivity gains that elevate Dow's competitive position," said Karen S. Carter, Dow's chief operating officer. "We are building on the momentum of our current self-help measures – transforming Dow into a company that is more resilient,

Dow (DOW) outlook update: improved cash flow, liquidity, and book value stabilize downside. Read here for a detailed investment analysis.