Can Corporate America Get Out From Under Its Overhead?

Throughout the 1980s, Corporate America whacked away at labor costs. It tamed unions, exacted givebacks, and laid off millions of hourly workers. Yet, multitudes of U.S. companies still can't compete with their international rivals, and big operations such as General Motors Corp. and Du Pont Co. are going through new rounds of restructuring. Why is competitiveness still so elusive?

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