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EMPLOYERS CONTINUE TO CUT LABOR COSTS

 EMPLOYERS CONTINUE TO CUT LABOR COSTS
 WASHINGTON, Sept. 3 /PRNewswire/ -- U.S. companies continue to


cut labor costs as they struggle to improve operating results in a sluggish economy, according to a new 2,400-company survey by The Wyatt Company.
 Among the survey's findings:
 -- Staffing: Twenty-nine percent of companies had layoffs in 1991, and 27 percent have had or expect layoffs in 1992. Eighteen percent report a hiring freeze for 1992, and 21 percent have used or expect to use temporary employees in place of hiring permanent workers this year.
 -- Compensation: Nine percent of companies implemented a salary freeze in 1991, and the same number report one for 1992.
 -- Benefits: Five percent of companies required employees to pay some share of benefit costs for the first time in 1991. Six percent said they will do so this year.
 "Global competition and the lackluster economy have put tremendous pressure on labor costs," said Marsha Cameron, a New York- based Wyatt consultant.
 "The days of employer-pay-all health benefits and automatic pay increases are fading," she said.
 The Wyatt Company is an international consulting firm specializing in the areas of human resources, financial management and systems. The firm has 3,400 employees and offices in 69 cities worldwide.
 -0- 9/3/92
 /CONTACT: Bob McKee, 202-508-4848, or Jennifer Eaton, 202-508-4842, both of The Wyatt Company/ CO: The Wyatt Company ST: District of Columbia IN: SU:


DC -- DC001 -- 6249 09/03/92 09:00 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
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