Eastman Taking Further Measures To Reduce 2009 Costs by S100-MM

摘要

Kinesport-Eastman Chemical Co. announced it will reduce costs in 2009 by over $100-million, of which about $80-million is expected to come from costs related to labor. In response to the current economic conditions, the company said that in early 2009 it will take the following actions: it will eliminate wage and salary increases planned for 2009; Eastman's U.S. vacation policy will be permanently changed to reduce the maximum vacation carry-over amount; overtime will be eliminated when possible, and there will be a reduction in management staff, contractors and part-time labor.