December 16, 1992

The International Business Machines Corporation, conceding that its orderly retrenchment has failed to reshape the company, said yesterday that it planned to cut another 25,000 jobs next year and further trim manufacturing capacity to cope with a worldwide economic slowdown. The costs associated with the cutbacks are likely to leave I.B.M. this year with the biggest one-year loss in American corporate history.

President-elect Bill Clinton's economic conference ended today with a consensus on the need to spur growth in the short term and reduce the deficit over the long haul, but with a welter of contradictory advice on how to achieve these goals. The President-elect took in all the comments from the economists, business executives and labor leaders gathered here. But he refrained from tipping his hand over what approaches he intended to take at first. Toughest Issue Ahead Participants at the conference proposed solutions ranging from spending a few million dollars to spending $60 billion on roads, bridges and education training to help create jobs and jolt the economy. And they suggested various timetables for reducing the deficit; some would start at once, others would phase in cuts starting several years from now.

Companies I.B.M. will shed another 25,000 jobs next year and trim its manufacturing capacity at a cost of $6 billion. It will also probably impose its first dividend cut and its first formal layoffs next year. The company's stock fell $6.75, to a 10-year low. [ Page A1. ] I.B.M.'s plan to cut its development budget by $1 billion brings into focus the fact that it already frequently responds slowly to the significant technological forces reshaping the industry. [ A1. ] Donald Trump is reportedly seeking refinancing of the debt of the Trump Plaza Hotel and Casino. The prospective deal is said to call for the sale of as much as $335 million in new bonds. [ D1. ]

PLEAS FOR STORM RELIEF The Governors of Connecticut and New Jersey formally asked the Bush Administration for Federal disaster relief for last weekend's storm, citing preliminary estimates of well over $150 million in damage to their two states. Governor Cuomo is expected to make a formal request for Federal aid for New York next week. New York officials said they had already accounted for more than $100 million in damage. B6. NEW YORK CITY DINKINS EXTENDS HAND TO BUSINESS Mayor Dinkins assured an audience of business people that he was committed to making New York a more hospitable place for business, from international business and cultural institutions to neighborhood stores and specialized manufacturers. B3.

In an effort to smooth his strained relations with New York City's Jews, Mayor David N. Dinkins will travel to Crown Heights today to meet with Hasidic leaders and representatives of Jewish groups from around the city. Advisers to the Mayor said the immediate goal of the meeting was to ease the tensions that have been building between the Mayor and the Lubavitcher Hasidim in the 18 months since a rabbinical student was stabbed to death during racial violence. But the meeting is also a symbolic act that could benefit Mr. Dinkins in a broader political sense, by quieting newer criticism among more mainstream Jewish groups, who played a major role in his 1989 campaign.