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

DATE: FRIDAY, September 23, 1994                   TAG: 9409270142
SECTION: BUSINESS                    PAGE: A7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

RICHMOND - Virginia Power's board of directors has named J. Kennerly Davis Jr. to be the company's vice president-treasurer and corporate secretary.

Davis, whose appointment takes effect Oct. 1, is vice president and corporate secretary of Dominion Resources Inc., the parent company of Virginia Power.

In Western Virginia, Virginia Power sells electricity to portions of Alleghany, Bath, Bedford, Botetourt and Rockbridge counties.

Linwood Robertson, vice president and treasurer, will succeed Davis. Robertson is vice president-finance and treasurer at Dominion Resources.

- Associated Press

Aircraft maker to cut 8,650 jobs

LOS ANGELES - Northrop Grumman Corp., illustrating again the human cost of the spending cutbacks in the defense industry, said Thursday it will slash 8,650 jobs during the next 15 months.

The job losses are ``a painful but necessary step to reduce our costs'' and to make the contractor ``a leaner, streamlined company'' in the face of the defense slowdown, Northrop Grumman Chairman Kent Kresa said.

The Los Angeles-based aerospace company said it does not know how many of the cuts will involve actual layoffs. The number will depend on attrition and how many workers accept an early retirement program being offered to 5,000 employees.

If 60 percent of the eligible workers accept its early retirement offer, Northrop Grumman said, it expects to incur a one-time, pretax charge against earnings of about $300 million in this year's fourth quarter.

Some job losses were expected following Northrop's $2.2 billion purchase of Grumman Corp. in May and its acquisition last month of the 51 percent of Vought Aircraft Co. in Texas that it didn't already own.

Northrop Grumman said, however, that only about 1,000 of the cuts - which will be concentrated in California, New York and Texas - are directly related to those deals.

The bulk of the lost jobs are due to the slide in Pentagon spending, which continues to leave Northrop Grumman and other defense contractors with far more capacity than they need.

- Los Angeles Times