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

DATE: THURSDAY, January 27, 1994                   TAG: 9401280009
SECTION: BUSINESS                    PAGE: B7   EDITION: METRO 
SOURCE: 
DATELINE: PHILADELPHIA                                 LENGTH: Short

SCOTT TO TRIM 8,300 JOBS

Scott Paper Co. said Wednesday it will slash its work force by 25 percent, or 8,300 jobs, as it struggles to bring its costs in line with competitors.

The company said it would take a $381 million restructuring charge after taxes, leaving a net loss for the three months ended Dec. 25 of $370.3 million, or $5.01 per share. During the 1992 period, Scott company made $44.8 million, or 61 cents a share.

The cuts, through a combination of layoffs and voluntary retirements, will reduce Scott's payroll to 24,700 from 33,000 within two to three years.

Scott plans to shut some older tissue factories, consolidate its coated-paper business and to restructure its Mexican affiliate.

For the year, Scott reported a loss of $277 million, or $3.75 a share, on sales of $4.75 billion. Sales fell from $5.09 billion. Excluding the restructuring and other special charges, the company said it made $117.6 million, or $1.58 a share. In 1992, Scott made $167.2 million, or $2.26 a share.

Associated Press

by CNB