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March 12, 1987

ITT EMBARRASSED BY EAGERNESS TO LEAVE SHOWN BY EMPLOYEES

By CBR Staff Writer

Poor old ITT has this embarrassing tendency to overdo things – rather like the guy who finally overcame his inhibitions and piled into the market in the first week of October 1929, the company cornered the last major line of 8088 chips – in Taiwan – in late 1983, only to see the bottom fall out of the Personalike market in 1984: now it has been embarrassed by the indecent haste with which its New York employees want to get out of the company, and so many of the staff at its headquarters leaped at its offer of early retirement incentives – 2,550 of the 3,000 qualified – that it has had to recall some of them to finish off all the work to be done.

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