Jan 30 (Reuters) - Chemical firm Dow missed

fourth-quarter profit estimates on Thursday, and said it will

lay off 1,500 employees globally.

The chemical industry has been struggling with weak

demand recovery, especially in Europe, where a challenging

regulatory environment has led some companies to rethink their

strategies.

Last year, Dow announced it had begun reviewing some of

its European assets, focusing on its polyurethane business.

The company had also said it was reducing exposure to

low-value merchant orders by shutting down its Freeport unit in

2025, which represents about 20% of North America's industry

capacity.

The workforce reduction is a part of the company's plan

to take additional actions to deliver $1 billion in cost cuts.

The company reported an adjusted profit of 0 cents per

share, compared with analysts' average estimate of 24 cents per

share, according to data compiled by LSEG.