WILMINGTON, Delaware (From news reports) -- DowDuPont Inc. Thursday raised its forecast for cost savings from its push to divide itself into three companies and updated its timeline to complete the process.

The chemical giant, formed from the late August merger of DuPont Co. and Dow Chemical Co., said it expects moves to cut jobs and change its facility footprint to save $3.3 billion in annual costs, up from its previous guidance of $3 billion.

Its plan to split into three different companies -- which will be focused on specialty-chemical products, materials and agriculture -- was supposed to take up to two years. On Thursday, the company said the process will take between 14 to 16 months.

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