SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest event reported) January
13, 1994
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GTE HAWAIIAN TELEPHONE COMPANY INCORPORATED
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(Exact name of registrant as specified in its charter)
Hawaii 2-33059 99-
0049500
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(State or other (Commission (IRS
Employer
jurisdiction of File Number)
Identification No.)
incorporation)
1177 Bishop Street, Honolulu, Hawaii
96813
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. . . . . .
(Address of principal executive offices) (Zip
Code)
Registrant's telephone number, including area code 808-
546-4511
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. . . . . .
(Former name or former address, if changed since last
report)
GTE HAWAIIAN TELEPHONE COMPANY INCORPORATED
FORM 8-K
ITEM OF INFORMATION
Item 5. Other Events
GTE Hawaiian Telephone Company Incorporated today
announced that its results for the fourth quarter
of 1993 will include a one-time pre-tax
restructuring charge of $78.2 million related
primarily to the implementation of its re-
engineering plan over the next three years. The
restructuring charge will reduce fourth quarter and
full year net income by $48.2 million.
The re-engineering plan will redesign and
streamline processes in order to improve customer-
responsiveness and product quality, reduce the time
necessary to introduce new products and services
and further reduce costs. The re-engineering plan
includes $31.3 million to upgrade or replace
existing customer service and administrative
systems and enhance network software, $35.4 million
for employee separation benefits associated with
workforce reductions and $9.6 million primarily for
the consolidation of facilities and operations and
other related costs. The charge for employee
separation benefits includes $17.9 million related
to the recognition of previously deferred
postretirement health and life insurance costs for
separating employees.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly
authorized.
GTE HAWAIIAN TELEPHONE COMPANY
INCORPORATED
(Registrant)
Date: January 13, 1994 By WILLIAM M.
EDWARDS, III
WILLIAM M.
EDWARDS, III
Controller
(Chief
Accounting Officer)
