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): October 3, 2001





                              CORNING INCORPORATED
             (Exact name of registrant as specified in its charter)


        New York                    1-3247                    16-0393470
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(State or other jurisdiction       (Commission             (I.R.S. Employer
        of Incorporation)          File Number)            Identification No.)



 One Riverfront Plaza, Corning, New York                         14831
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 (Address of principal executive offices)                      (Zip Code)


Registrant's telephone number, including area code            (607) 974-9000
                                                    --------------------------

                                      N/A
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(Former name or former address, if changed since last report.)







                                Page 1 of 4 Pages
                             Exhibit Index on Page 4







                                       -2-

Item 5.  Other Events and Regulation FD.
         ------------------------------


On October 3, 2001,  Corning  Incorporated  announced  an  expanded  companywide
restructuring  program,  which includes a further reduction in its workforce and
the  temporary   idling  of  the  majority  of  its   worldwide   optical  fiber
manufacturing  facilities.  The press release  relating to this  announcement is
filed herewith as Exhibit 99.1 and is incorporated herein by reference.


Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
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         (c)      Exhibits.

         99.1     Press Release dated October 3, 2001




                                       -3-




     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.

Dated:    October 3, 2001


                                          CORNING INCORPORATED


                                         By  /s/ Katherine A. Asbeck
                                         -------------------------------------
                                         Katherine A. Asbeck
                                         Senior Vice President & Controller






                                INDEX TO EXHIBITS

(c)      Exhibits

99.1     Press Release dated October 3, 2001







FOR RELEASE -- OCTOBER 3, 2001


Corning Media Contact           Corning Investor Relations Contact
Daniel F. Collins               Katherine M. Dietz
(607) 974-4197                  (607) 974-8217
collinsdf@corning.com           dietzkm@corning.com






           Corning Sees Further Softening Across Its Major Businesses

                    Expands companywide restructuring actions

                  Idles optical fiber manufacturing operations


CORNING,  N.Y. -- Responding to rapidly deteriorating global business conditions
across all its major businesses, Corning Incorporated (NYSE:GLW) today announced
an expanded companywide  restructuring program that will result in charges of up
to $1 billion in 2001. In addition,  the company said that  permanent  workforce
reductions,  including those previously announced, may reach 12,000 employees by
the end of the year. The company will also  temporarily idle the majority of its
worldwide optical fiber manufacturing facilities.

Corning said that while it has discontinued  providing  earnings guidance due to
the  uncertain  market  conditions,  it would not meet the  consensus of analyst
estimates for the third  quarter.  Pro forma  earnings for the third quarter are
expected to be in the range of $0.02 to $0.06 per share.  The company expects to
record a pro forma net loss for the fourth quarter.  Pro forma earnings  exclude
impairment and amortization of purchased intangibles and goodwill, restructuring
charges and certain other non-recurring items.


                                     (more)





Corning Sees Further Softening Across Its Major Businesses
Page Two


"The deterioration of global economic  conditions,  especially over the past few
weeks,  has  impacted  all of  Corning's  businesses.  In  particular,  we  have
experienced   another   drop  in  demand   for   optical   fiber  and  cable  as
telecommunications  carriers  continue to curtail  capital  spending  around the
world. The  telecommunications  industry is experiencing an extremely  difficult
and  challenging  period,"  said John W. Loose,  president  and chief  executive
officer.

                   Corning to idle optical fiber manufacturing

The company said it would idle most of its worldwide optical fiber manufacturing
while  maintaining   limited  production  at  certain  facilities  for  customer
responsiveness.   These  actions  will  take  effect  in  late  October.   Fiber
manufacturing  operations  will resume in 2002 as business  conditions  improve.
Corning  Cable  Systems will also  significantly  reduce  production  at several
optical  cable  manufacturing  facilities.  This  operating  plan will allow the
company to match production with demand and significantly reduce inventories.

James B. Flaws,  Corning's chief financial  officer,  said, "Our fiber and cable
business  performed  well through  August  despite the drop off of demand in the
North  American  long-haul  fiber  business.  In late  August,  we  announced  a
significant slowing in orders across all fiber product lines from North American
and European customers.  We've recently experienced another decline in worldwide
single-mode  fiber  and cable  orders,  and,  as  previously  expected,  pricing
pressures are now  increasing."  The company expects its own fiber shipments for
the year to be down 10%,  reflecting a decline in the  worldwide  optical  fiber
market in 2001.

                              Restructuring actions

Corning has previously  announced workforce  reductions  totaling  approximately
8,000  employees,  as well  as the  closing  of  several  Photonic  Technologies
manufacturing  plants.  Costs for these programs were included in the previously
disclosed range of $300 to $400 million.

Corning now expects to reduce its global  workforce  by up to 12,000  employees.
Corning's  2001 peak  employment  was 43,000.  As part of this  reduction  plan,
Corning will also offer certain employees in the United States a voluntary early
retirement  program.  In addition to the previously  announced  plant  closings,
Corning will close or consolidate several other manufacturing  locations as well
as smaller businesses in the telecommunications and advanced materials segments.

                                     (more)





Corning Sees Further Softening Across Its Major Businesses
Page Three


"We sincerely  regret having to take these  actions,  and we are taking steps to
assist those individuals who will be impacted. Decisions like this are extremely
painful for everyone  involved.  There is an enormous  human  impact  whenever a
company  finds  it is  necessary  to  eliminate  positions.  Unfortunately,  the
worldwide   economic   decline,   particularly   the  dramatic  slowing  in  the
telecommunications sector, leaves us little choice," Loose said.

As a result of this  restructuring  program,  Corning  now  expects  to record a
charge of  approximately  $1  billion in the second  half of 2001.  The  company
anticipates  recording  approximately  $350  million of this charge in the third
quarter.  The company  estimates  two-thirds  of the charges  will be  non-cash.
Further  details of these  planned  actions will be  discussed in the  company's
third quarter earnings  conference call scheduled for October 19, 2001.  Corning
will  announce  its earnings  after the close of the New York Stock  Exchange on
October 18, 2001.

With the  slowing in the  company's  businesses,  Corning  will also  adjust its
expansion  plans.  Corning's  capital  expenditures  this year will fall to $1.8
billion,  and  Corning  will lower its  capital  spending to under $1 billion in
2002.

                                     Outlook

In addition to  experiencing  weakness in its optical fiber and cable  business,
Corning said sales of its Photonic  Technologies business are now expected to be
in the range of $475 million to $500 million for 2001,  down from the previously
anticipated  range of $600 million to $700 million.  In addition,  the company's
telecommunications hardware and equipment business continues to soften.

Corning now  anticipates its total volume growth of liquid crystal display glass
will be approximately 25%, which is down from previous  expectations of 35%, but
in line with overall market  growth.  However,  a significant  shift in customer
demand  from Japan to Korea  will cause  volume to be up close to 40% at Samsung
Corning Precision Glass Company, an equity affiliate in Korea.  Corning's volume
in Japan and Taiwan,  however,  will be up only 15%.  This volume  growth,  when
offset by the impact of currency translation and price declines,  will result in
a year to year sales  decline  of  approximately  10%.  In  addition,  sales and
profits in the company's environmental  technologies business are expected to be
below those of the previous year as the worldwide automotive market weakens.


                                     (more)






Corning Sees Further Softening Across Its Major Businesses
Page Four

"We are taking decisive actions to improve Corning's  profitability and to align
our cost structure with our current  revenue  outlook," Loose said. "Our balance
sheet remains strong. We have over $1 billion in cash and significant additional
liquidity to weather this economic  storm.  Despite this slowdown,  our analysis
continues to show strong bandwidth  growth.  We remain confident  long-term that
continued  bandwidth  demand  will fuel the  renewal of  optical  communications
growth throughout the world. We continue to believe that any significant  market
recovery  will not occur  until at least the latter  part of 2002 or into 2003,"
Loose said.


Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge
technologies for the  fastest-growing  markets of the world's  economy.  Corning
manufactures    optical   fiber,   cable   and   photonic   products   for   the
telecommunications  industry;  and high-performance  displays and components for
television,  information technology and other communications-related industries.
The company also uses advanced materials to manufacture products for scientific,
semiconductor  and  environmental  markets.  Corning revenues for 2000 were $7.1
billion.

                    Forward-Looking and Cautionary Statements

Except for historical  information and discussions contained herein,  statements
included in this release may constitute "forward-looking  statements" within the
meaning  of  the  Private  Securities  Litigation  Reform  Act  of  1995.  These
statements involve a number of risks, uncertainties and other factors that could
cause results to differ  materially,  as discussed in the company's filings with
the Securities and Exchange Commission.

                               Pro Forma Statement

Pro  forma  net  income  excludes   impairment  and  amortization  of  purchased
intangibles  and  goodwill,   purchased  in-process  research  and  development,
restructuring charges,  one-time acquisition costs,  discontinued operations and
other non-recurring items.


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