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DUPONT ANNOUNCES RESTRUCTURING EFFORTS

 WILMINGTON, Del., Sept. 13 /PRNewswire/ -- As part of ongoing restructuring efforts, DuPont's (NYSE: DD) Chemicals & Specialties (C&S) businesses expect to eliminate as many as 4,500 positions in the U.S. through mid-1994, Chairman Edgar S. Woolard Jr. announced today.
 Some 3,000 employees will be notified by their business units this month that their positions have been eliminated, and most will be off the rolls by Nov. 30. About 1,000 are in Delaware. Currently, there are 66,000 U.S. C&S employees, 19,000 of them located in Delaware.
 "Each of the business units, functions, and sites has reassessed its operations, and has now reached a point of being able to anticipate its current involuntary separations," Woolard said. "DuPont Nylon businesses account for a large portion of the positions."
 Employees involuntarily separated are afforded a separation package which provides one month's pay for every two years of company service, with a maximum of one year's compensation. Medical and dental benefits, and life insurance, continue for one year. Outplacement is offered, and a $5,000 tuition refund is available.
 DuPont's European operations have embarked on an additional $500 million cost reduction effort, to be completed in 1994.
 An after-tax charge of about $375 million or $.56 per share, will be taken in the third quarter to cover employee separation costs, worldwide. The company anticipates taking other restructuring charges in the third quarter which have not yet been quantified.
 In addition, the company will recognize an after-tax gain of about $235 million, related to the reduction of deferred United Kingdom Petroleum Revenue Taxes (PRT), due to a lower PRT rate and certain other tax law changes enacted by the U.K. government, effective July 1, 1993.
 /delval/
 -0- 9/13/93
 /CONTACT: Irene E. Shadoan of DuPont, 302-774-6630/
 (DD)


CO: DuPont ST: Delaware IN: CHM SU: RCN

CC -- PH018 -- 1327 09/13/93 13:00 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
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