Chemical Industry has many potential and real ups and downs - this is because there are often high energy costs - also, supply management controls are in place... Tough industry...
It must mean layoffs are good.
Your cost increase in medical/dental will be 2 fold at the least. 60 cent/hr. wage increase. No more boot incentive. The free water will soon go away. Stricter attendance policy.
Used to work there - I liked it - spent only 4 years there but now I am retired. I wish them all the best.