INDUSTRY

Monsanto to Cut 3,200 Jobs: The St. Louis-based chemical company announced plans to eliminate 3,200 jobs, about 8% of its work force, under a program aimed at coping with tough price competition, especially in the pharmaceutical business. The chemical company, which has 39,000 employees, said the cost-cutting program will result in a $425-million after-tax charge against fourth-quarter earnings that would be equivalent to $3.25 a share. Monsanto also said that the new program, aimed at yielding a pretax saving of $200 million a year beginning in 1994, will affect its Searle pharmaceutical division the hardest.