UNITED STATES 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): November 12, 1997 COMMISSION FILE NO. 0-25842 PACIFIC GAS TRANSMISSION COMPANY (Exact name of registrant as specified in its charter) California 94-1512922 (State or other jurisdiction of (IRS Employer Identification No.) incorporation) 2100 SW River Parkway, Portland, OR 97201 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (503) 833-4000 Item 5. Other Events The following information includes forward-looking statements that involve a number of risks, uncertainties, and assumptions. A number of factors which could cause actual results to differ materially from those indicated in the forward-looking statements are described in more detail below. Words such as "expects," "intends," "plans," and similar expressions identify those statements which are forward-looking. On November 12, 1997, Pacific Gas Transmission Company announced its adoption of a workforce management initiative to eliminate between 50 and 60 management and staff positions. The reduction will be accomplished primarily through a voluntary retirement incentive (VRI) program adopted effective November 13, 1997, which provides incentives for qualifying employees to retire early. These efforts have been undertaken in order to manage costs and improve earnings. The estimated cost of the workforce management initiative will be expensed in the fourth quarter of 1997. SIGNATURE 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 thereunto duly authorized. PACIFIC GAS TRANSMISSION COMPANY By: /s/FRANK R. LINDH ------------------ Frank R. Lindh General Counsel and Corporate Secretary Dated: December 12, 1997