OTHER NEWS - Nov. 30, 1995

Converse Plans Restructuring, Job Cuts: Converse Inc., the nation’s largest maker of athletic shoes, announced a restructuring that will cut nearly 600 jobs, eliminate some product lines and save $25 million a year starting in 1996. The North Reading, Mass.-based company said it will stop making its outdoor, running, walking, tennis and football products and concentrate on four categories: basketball, cross-training, children’s and “Athleisure” product lines. It said 594 jobs will be cut, leaving a total work force of 2,504. In October, the company also announced 475 job cuts at its U.S. manufacturing plants and 21 positions in its sales force. Converse said it expects to take a pretax charge of $2.5 million in the fourth quarter of this year to cover the cost of the restructuring. On the New York Stock Exchange, Converse slipped 25 cents to $4.25.