TENNECO TO IDLE 1,000 WORKERS AT SHIPYARD

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, January 9, 1992                   TAG: 9201090374
SECTION: BUSINESS                    PAGE: C7   EDITION: METRO 
SOURCE: Associated Press
DATELINE: NEWPORT NEWS                                LENGTH: Short
TENNECO TO IDLE 1,000 WORKERS AT SHIPYARD
Tenneco Inc. will lay off 1,000 employees at Newport News Shipbuilding & Dry Dock Co., company officials announced Wednesday.
The cuts are part of Tenneco's previously announced plan to reduce 6,000 jobs across the corporation, including 4,000 from its troubled JI Case farm and equipment unit.
Tenneco said the cuts in salaried employees at the shipyard will be completed by the end of March. The move will reduce by 9 percent the salaried work force, which totals 11,200. The shipyard is Virginia's largest private employer with a total of 27,000 workers.
The number of workers paid hourly also will be reduced through attrition. However, Jack Garrow, vice president for public relations of Newport News Shipbuilding, wouldn't say how many hourly jobs would be eliminated.
The job cuts are part of a $2 billion restructuring program that Houston-based Tenneco began in September to improve the company's financial health. On Oct. 29, 1991, Tenneco announced a record $693 million loss for the third quarter, which included a $504 million restructuring charge.
Tenneco on Dec. 31 completed the sales of its natural gas liquids business and three short-line railroads for $686 million. The restructuring plan also includes a $500 million stock offering, a cut in dividends and reductions in this year's capital spending.

by Archana Subramaniam by CNB