OTHER NEWS - Nov. 27, 1991
From Times Staff and Wire Reports
International Paper Cuts More Than 1,000 Jobs: International Paper Co. says it is eliminating more than 1,000 jobs to raise efficiency and restating 1991 earnings to reflect an accounting change in how retiree benefits are paid. The leading manufacturer of paper and packaging, which like competitors has been been hurt by a drop in demand from the recession, said it was setting aside $60 million to cover the severance costs of the job reductions. The job cuts were expected to save the company about $50 million a year.
