OTHER NEWS - Dec. 20, 1995

Polaroid to Cut Jobs: The Cambridge, Mass.-based instant-camera pioneer announced it will eliminate 1,300 jobs in a restructuring designed to cut costs and refocus some of its operations. Polaroid Inc. said it will take a $155-million pretax charge against earnings in the fourth quarter and a $40-million charge in 1996 to pay for the restructuring. It said the effort is expected to reduce operating costs by $90 million a year. The job cuts amount to 10% of Polaroid’s work force of 11,300. The restructuring includes plans to scale back manufacturing of Polaroid’s Captiva instant camera, although it will continue to sell and service the product. Employees were notified of the restructuring plan by letters and e-mail, Polaroid spokesman Robert Guenther said.