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DuPont offers early retirement.

DuPont offers early retirement

In a move to reduce labor costs, DuPont Co. offered early retirement to its employees in the United States. About 6,500, or 4 percent, of them were expected to accept the offer. Under the plan, as many as 5 years will be added to an employee's age and length of service in computing pensions. With the credit, the pension of a 53-year-old worker with an annual salary of $25,000 and 22 years of service would rise to $675 a month, from $275.

Company officials said the cut in employment was part of its plan to streamline operations and reduce a large overlap of staff resulting from its 1981 acquisition of Conoco.
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Author:Ruben, George
Publication:Monthly Labor Review
Date:Apr 1, 1985
Words:117
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