NEW YORK (CNN/Money) - DuPont Co. said it will cut 2,000 jobs from its textiles and interiors unit, which the company plans to spin off by the end of 2003.

DuPont (DD: Research, Estimates) said the cuts account for 10 percent of the unit's total work force. Approximately two-thirds of the reduction will occur in the United States, with the remainder affecting employees in Europe. The company also said it will close its Terathane manufacturing plant in Niagara Falls, N.Y., and portions of its Spandex plant in Waynesboro, Va.

Wilmington, Del.-based DuPont said it will take a second-quarter charge of 12-to-16 cents a share due to the jobs cuts and plant shutdowns. The company expects the cuts will save it $36 million before taxes in 2002 and $84 million in 2003.

DuPont said in February that it will spin off the textiles and interiors unit, which makes Lycra, Stainmaster, and Dacron materials, into a separate unit. The company said it is evaluating options for the spinoff, including an initial public offering.