
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, February 13, 1994                   TAG: 9402130105
SECTION: VIRGINIA                    PAGE: D3   EDITION: METRO 
SOURCE: 
DATELINE: NEWPORT NEWS                                LENGTH: Short

SHIPYARD LAUNCHES $10-MILLION ANNUAL SAVINGS PROPOSAL

Newport News Shipbuilding has canceled two paid holidays for salaried workers and stripped 3,200 low-level salaried workers of all three of their personal days as part of a plan to save up to $10 million a year.

Cutting 7,900 salaried employees' benefits will help make the shipyard more competitive, said spokesman Michael Hatfield. The two lost holidays will reduce salaried workers' holidays to 10.

The company also capped salaried employees' vacations as of next year at four weeks instead of five and limited severance pay to 52 weeks for employees who are laid off. - Associated Press

by CNB