Path: bloom-picayune.mit.edu!enterpoop.mit.edu!snorkelwacker.mit.edu!americast.com!americast.com!americast-post Newsgroups: americast.latimes.money From: americast-post@AmeriCast.Com Organization: American Cybercasting Approved: americast-post@AmeriCast.com Subject: INDUSTRY Date: Tue, 24 Nov 92 06:06:07 EST Message-ID: Lines: 18 HEADLINE: INDUSTRY Publication Date: Monday November 23, 1992 BYLINE: Monsanto to Cut 3,200 Jobs: The St. Louis-based chemical company announced plans to eliminate 3,200 jobs, about 8% of its work force, under a program aimed at coping with tough price competition, especially in the pharmaceutical business. The chemical company, which has 39,000 employees, said the cost-cutting program will result in a $425-million after-tax charge against fourth-quarter earnings that would be equivalent to $3.25 a share. Monsanto also said that the new program, aimed at yielding a pretax saving of $200 million a year beginning in 1994, will affect its Searle pharmaceutical division the hardest. This article is copyright 1992 The Los Angeles Times Home Edition. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM