Word: collars
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...Union Carbide (1984 sales: $9.5 billion) aims to reverse its fortunes. Last week the Danbury, Conn.-based company dramatically retrenched its operations, announcing that it will eliminate 4,000 white-collar jobs, thereby reducing its work force about 15%. The firm will close several unprofitable plants and make other moves to slim down operations. The large write-offs, which will cost $990 million, will give Union Carbide an estimated net loss of $250 million for 1985, compared with a profit of $323 million in 1984. In a step that could dissuade raiders, the company plans to buy back $500 million...
...employees roared up to the plant in his auto shouting "We won! We won!" some of his friends figured he was just kidding around. After all, such good fortune was hard to believe: against odds of 6 million to 1, who could believe that 21 blue-collar workers, all but two of them immigrants from such places as Poland, Paraguay, China, Czechoslovakia, Italy and Germany, would prove to be joint possessors of one of three winning claims to New York State's unprecedented $41 million lottery prize...
Still, AT&T intends to proceed carefully. It will rely on financial incentives and attrition to slim its ranks. White-collar managers and lower- level workers will in some cases be offered 60 weeks' severance pay. Others leaving voluntarily will get medical insurance for as long as six months. In deciding whom to let go, seniority will be the first consideration: last hired will be the first fired. A few, only about 2,000, may get reassigned to other jobs in the company...
Longtime observers say the city is split between progressive and traditional Democrats. The city's high tenant population and white collar workers back the issues-oriented Cambridge Civic Association (CCA), which at the age of 42 is the nation's oldest municipal party. They are opposed by ethnics and landowners who support the more conservative Independents, who have controlled the city's neighborhoods for years...
Without Harvard to push around anymore, things would be a whole lot quieter in Cambridge, too. For one thing, there would be many fewer disputes between academic and blue collar neighbors...