Nabisco Will Reduce Employees By 4,200

Nabisco Holdings Corp., maker of snack mainstays like Oreos and Ritz, moved Monday to cut nearly 8 percent of its work force in a restructuring that reflects the increased competition among food retailers.

The subsidiary of food-tobacco conglomerate RJR Nabisco said the retooling will cut its overhead by about $200 million annually.

But in contrast to other job-slashing announcements that have cheered investors in recent months, Wall Street showed little reaction. RJR Nabisco shares rose 25 cents to $32.87-1/2.

Nabisco said it will reduce payrolls by 4,200 jobs from the current 54,000, splitting the cuts between its U.S. and international operations. The cuts will also be divided among management, sales and production, said Nabisco spokesman Hank Sandbach. He said no plants would close.