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Takeover target West Point-Pepperell Inc. has adopted...

Takeover target West Point-Pepperell Inc. has adopted a sweetened severance plan for almost 6,000 employees that provides increased benefits if they are fired within two years of a hostile acquisition. A company official said the plan has been considered for some time and is not a direct reaction to Monday’s $1.4-billion offer for the Georgia textile giant by Chicago-based Farley Inc. D. Michael Roark, West Point-Pepperell vice president of human resources, said the program had been adopted last week and was under consideration for some time. Roark said the plan guarantees at least three months pay to some 5,900 salaried and clerical employees.


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