The impact of the employee departures is a special second-quarter charge of $200 million, or about 20 cents a share, according to the company.

Without the second-quarter charge, net income would have been $12.3 million, or 25 cents a share, the company said.

Alcoa is eliminating 2,100 jobs to increase efficiency and will take a $40.6 million second-quarter charge.

The company said $592 million of the current second-quarter charge is for severance payments to certain railroad employees.

Continental Airlines said it had underestimated some liabilities and would take a $131 million second-quarter charge.

In 1988, Travelers took a second-quarter charge of $415 million because of troubled real estate investments.

Alcoa will take a $165.7 million second-quarter charge, after taxes, to cover the closing of several inefficient plants.

Warnaco said it would take a second-quarter charge of $65 million for the Hathaway closing.

The company said it expected to incur a second-quarter charge totaling $850 million before tax, or $1.12 a share after tax.

The company will take a $50 million second-quarter charge as a result.