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From Times Staff and Wire Reports

Mobil to Take $315-Million Charge, Cut 2,300 Jobs: The Fairfax, Va.-based oil company said it will take the after-tax charge in the second quarter and cut 20% of its chemical workers as part of an overhaul aimed at boosting profit. Mobil Corp.’s chemical profit has fallen sharply due to excess capacity in a depressed market. The company said it will set aside about $95 million in mostly non-cash charges for its chemical unit in the second quarter, partly to close some U.S. plastics fabrication operations. That charge is in addition to the $20 million Mobil reserved for restructuring in the fourth quarter of 1993.

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