ENERGY
From Times Staff and Wire Reports
Arco Alaska Inc. to Cut 32% of Work Force: The Atlantic Richfield Co. unit said it will cut 750 jobs over the next several months to cope with low oil prices and declining production from the giant Prudhoe Bay field. Arco Alaska currently has 2,350 employees, 450 fewer than in 1990. Like other oil producers, Arco, the No. 7 U.S. oil producer, has been hit hard as oil prices plummeted to an average of $16.08 a barrel on the New York Mercantile Exchange this year, the lowest price in six years.
