Upjohn_NNP Co._NN said_VBD it_PRP will_MD offer_VB an_DT early_JJ retirement_NN package_NN to_TO as_RB many_JJ as_IN 1,100_CD employees_NNS in_IN a_DT cost-cutting_JJ move_NN expected_VBN to_TO result_VB in_IN a_DT fourth-quarter_JJ charge_NN ._. 

Upjohn_NNP officials_NNS said_VBD they_PRP could_MD n't_RB estimate_VB the_DT size_NN of_IN the_DT charge_NN until_IN they_PRP determine_VBP which_WDT employees_NNS ,_, and_CC how_WRB many_JJ ,_, will_MD participate_VB in_IN the_DT retirement_NN plan_NN ._. 
But_CC the_DT pharmaceutical_JJ company_NN said_VBD it_PRP "_'' anticipates_VBZ the_DT long-term_JJ savings_NNS resulting_VBG from_IN the_DT plan_NN 's_POS implementation_NN will_MD more_RBR than_IN offset_VBN short-term_JJ costs_NNS ._. "_'' 

The_DT program_NN ,_, available_JJ to_TO Upjohn_NNP employees_VBZ 55_CD years_NNS old_JJ or_CC older_JJR ,_, could_MD increase_VB an_DT individual_NN 's_POS retirement_NN benefits_NNS 10_CD %_NN to_TO 20_CD %_NN ._. 
In_IN addition_NN ,_, Upjohn_NNP is_VBZ offering_VBG a_DT one-time_JJ retirement_NN bonus_NN equal_JJ to_TO six_CD months_NNS of_IN base_NN pay_NN ._. 

Chairman_NNP Theodore_NNP Cooper_NNP called_VBD the_DT program_NN part_NN of_IN the_DT company_NN 's_POS two-year_JJ strategy_NN to_TO implement_VB budget_NN constraints_NNS and_CC "_'' an_DT effective_JJ headcount-control_NN program_NN ._. "_'' 

But_CC some_DT analysts_NNS questioned_VBD how_WRB much_RB of_IN an_DT impact_NN the_DT retirement_NN package_NN will_MD have_VB ,_, because_IN few_JJ jobs_NNS will_MD end_VB up_RP being_VBG eliminated_VBN ._. 
"_'' It_PRP 's_VBZ a_DT cosmetic_JJ move_NN ,_, "_'' said_VBD Jonathan_NNP S._NN Gelles_NNP of_IN Wertheim_NNP Schroder_NNP &_CC Co._NN 

According_VBG to_TO Upjohn_NNP 's_POS estimates_NNS ,_, only_RB 50_CD %_NN to_TO 60_CD %_NN of_IN the_DT 1,100_CD eligible_JJ employees_NNS will_MD take_VB advantage_NN of_IN the_DT plan_NN ._. 
Upjohn_NNP further_RBR estimated_VBD that_IN about_IN 50_CD %_NN of_IN the_DT employees_NNS who_WP leave_VBP for_IN early_JJ retirement_NN may_MD be_VB replaced_VBN ._. 
As_IN a_DT result_NN ,_, Upjohn_NNP will_MD likely_RB trim_VB only_RB about_IN 275_CD to_TO 350_CD of_IN its_PRP$ more_JJR than_IN 21,000_CD jobs_NNS world-wide_JJ ._. 

In_IN composite_JJ trading_NN on_IN the_DT New_NNP York_NNP Stock_NNP Exchange_NNP yesterday_NN ,_, Upjohn_NNP shares_NNS rose_VBD 87.5_CD cents_NNS to_TO $38.875_NN apiece_RB ._. 

An_DT Upjohn_NNP spokesman_NN said_VBD he_PRP had_VBD "_'' heard_VBN nothing_NN "_'' to_TO suggest_VB the_DT early_JJ retirement_NN package_NN was_VBD spurred_VBN by_IN shareholder_NN pressure_NN or_CC a_DT potential_JJ bidder_NN for_IN the_DT company_NN ,_, which_WDT occasionally_RB has_VBZ been_VBN the_DT target_NN of_IN takeover_NN speculation_NN ._. 
The_DT company_NN earlier_RBR this_DT year_NN adopted_VBD a_DT shareholder-rights_JJ plan_NN to_TO ward_VB off_RP unwanted_JJ suitors_NNS ._. 

The_DT spokesman_NN said_VBD it_PRP is_VBZ the_DT first_JJ early_JJ retirement_NN plan_NN offered_VBN under_IN its_PRP$ two-year_JJ cost-control_JJ strategy_NN ._. 
Earlier_JJR staff-reduction_NN moves_NNS have_VBP trimmed_VBN about_IN 300_CD jobs_NNS ,_, the_DT spokesman_NN said_VBD ._. 

