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STONE & WEBSTER TO TAKE ONE-TIME NON-CASH CHARGE

 NEW YORK, July 15 /PRNewswire/ -- Stone & Webster, Incorporated (NYSE: SN) reported today that it will take a one-time non-cash charge of $9,081,000, or $5,460,000 after tax, against second quarter 1993 earnings for costs related to the Incentive Retirement Program announced in March 1993. In excess of 200 employees elected to retire under this program, which should result in an estimated ongoing annual savings of $18,000,000 in payroll and related expenses.
 -0- 7/15/93
 /CONTACT: William M. Egan of Stone & Webster, 212-290-7490/
 (SW)


CO: Stone & Webster, Incorporated ST: New York IN: SU:

LG-CK -- NY032 -- 1901 07/15/93 11:24 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
Words:107
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