MORE RESTRUCTURING, CUTS SWEEP U.S. INDUSTRY

More U.S. companies have taken steps to restructure and consolidate operations, several reflecting a continuing slump in the U.S. gas industry and the flight of U.S. upstream capital overseas. Among recent actions are: Sun Co. taking a big charge against third quarter earnings as a result of its restructuring and streamlining effort. Exxon Corp. planning to create a new division to handle all its worldwide exploration efforts, except Canada, that will mean a cut in jobs. Tenneco Inc.

Oct 14th, 1991

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