OTHER NEWS - July 16, 1993

Procter & Gamble to Eliminate 13,000 Jobs: The Cincinnati-based consumer products company announced the most radical shakeup in its 156-year history, a revamping that will also cut 30 plants. The company famous for Tide detergent and Pampers disposable diapers is doing this from a position of strength--it’s been highly profitable. The company even coupled the restructuring by telling shareholders it’s raising their dividend by 13%. P&G; established a $1.5 billion after-tax reserve to pay for the consolidation and restructuring of its business and the reduction of overhead. P&G; has about 180 employees at a plant in Anaheim that manufactures a fruit soda under the label Sundor. Linda Ulrey, a spokeswoman in Procter & Gamble’s Cincinnati headquarters, said the company has not yet determined what effect the parent company’s reorganization will have on that operation.