<PAGE>   1
   As filed with the Securities and Exchange Commission on August 23, 1995

                        Registration Statement No. 33-

                      SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                               ---------------

                                   FORM S-8
                            REGISTRATION STATEMENT
                                    Under
                          THE SECURITIES ACT OF 1933

                               ---------------

                      Westinghouse Electric Corporation
            (Exact name of Registrant as specified in its charter)

            Pennsylvania                                   25-0877540
            (State or other jurisdiction                   (I.R.S. Employer 
            of incorporation or organization)              Identification No.)

                   Westinghouse Building, 11 Stanwix Street
                        Pittsburgh, Pennsylvania 15222
  (Address of Registrant's principal executive offices, including zip code)

                      Westinghouse Electric Corporation
                        1991 Long-Term Incentive Plan
                           (Full title of the plan)

                           ANGELINE C. STRAKA, ESQ.
           Vice President, Secretary and Associate General Counsel
                   Westinghouse Building, 11 Stanwix Street
                       Pittsburgh, Pennsylvania  15222
                   (Name and address of agent for service)
                                (412) 244-2300
        (Telephone number, including area code, of agent for service)

                               ---------------

                        CALCULATION OF REGISTRATION FEE
<TABLE>
<CAPTION>
 Title of                                  Proposed                Proposed
securities           Amount                maximum                 maximum                 Amount of
   to be             to be              offering price            aggregate               registration
registered         registered            per share(1)         offering price(1)              fee(1)
<S>                <C>                     <C>                  <C>                       <C>
Common
Stock,
par value
$1.00 per
share . . . . .     7,500,000               $13.25               $99,375,000               $34,267.48

<FN>
(1)      Pursuant to Rule 457 under the Securities Act of 1933, the proposed
         maximum aggregate offering price and the registration fee are based
         upon the average of the high and low prices per share of the
         Registrant's Common Stock reported on the New York Stock Exchange
         Composite Tape on August 21, 1995.
</TABLE>

                                     - 1 -
<PAGE>   2
                                   PART II

              INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.  Incorporation of Documents by Reference

     The following documents, each as filed by Westinghouse Electric
Corporation (the "Corporation") with the Securities and Exchange Commission
(the "Commission") pursuant to the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), are incorporated herein by reference:

         (a)   The Corporation's Annual Report on Form 10-K for the year
ended December 31, 1994.

         (b)   The Corporation's Quarterly Report on Form 10-Q for the
quarter ended June 30, 1995.

         (c)   The Corporation's Current Report on Form 8-K dated August 1,
1995.

         (d)   Description of the Corporation's Common Stock contained in its
Registration Statement on Form 10 filed pursuant to the Exchange Act on May 15,
1935, as amended or updated pursuant to the Exchange Act.

         All documents subsequently filed by the Corporation pursuant to
Sections 13(a) 13(c), 14 or 15(d) of the Exchange Act prior to the filing of a
post-effective amendment to this Registration Statement which indicates that
all shares covered hereby have been sold or which deregisters all such shares
then remaining unsold shall be deemed to be incorporated in this Registration
Statement by reference and to be a part hereof from the respective date of
filing of each such document.  Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the
extent that a statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement.  Any such statement so modified or
superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this Registration Statement.

Item 4.  Description of Securities

     Not applicable.

Item 5.  Interests of Named Experts and Counsel

         As of August 21, 1995, Angeline C. Straka, Vice President, Secretary
and Associate General Counsel of the Corporation, who has given an opinion as
to the legality of the securities being registered hereunder, held options to
purchase 60,275 shares of the Common Stock of the Corporation.

Item 6.  Indemnification of Directors and Officers

         Section 1741 of the Business Corporation Law of the Commonwealth of
Pennsylvania (the "BCL") empowers a corporation to indemnify any person who was
or is a party or is threatened to be made a party to any threatened, pending or
completed action or proceeding (a "Proceeding"),  whether civil, criminal,
administrative or investigative, by reason of the fact that such person is or
was a representative of the corporation or is or was serving at the request of
the corporation as a representative of another corporation or enterprise,
against expenses (including attorneys' fees), judgments, fines and amounts paid
in settlement actually and reasonably incurred by him in connection with such
Proceeding, if he acted in good faith and in a manner he reasonably believed to
be in, or not opposed to, the best interests of the corporation and, with
respect to any criminal proceeding, had no reasonable cause to believe his
conduct was unlawful.  Section 1742 of the BCL empowers a corporation to
indemnify any person who was or is a party, or is threatened to


                                    - 2 -
<PAGE>   3
be made a party, to any threatened, pending or completed action by or in the
right of the corporation to procure a judgment in its favor by reason of the
fact that such person is or was a representative of the corporation or is or
was serving at the request of the corporation as a representative of another
corporation or enterprise, against expenses (including attorneys' fees)
actually and reasonably incurred by him in connection with the defense or
settlement of the action if he acted in good faith and in a manner he
reasonably believed to be in, or not opposed to, the best interests of the
corporation, provided that indemnification shall not be made in respect of any
claim, issue or matter as to which such person has been adjudged to be liable
to the corporation unless there is a judicial determination that in view of all
the circumstances of the case, the person is fairly and reasonably entitled to
indemnity for the expenses that the court deems proper.

         Section 1743 of the BCL provides that to the extent a representative
of a corporation has been successful on the merits or otherwise in defense of
any Proceeding, or in defense of any claim, issue or matter therein, he shall
be indemnified against expenses (including attorneys' fees) actually and
reasonably incurred by him in connection therewith.

         Section 1745 of the BCL provides that expenses (including attorneys'
fees) incurred in defending a Proceeding may be paid by the corporation in
advance of the final disposition of such Proceeding upon receipt of an
undertaking by or on behalf of the representative to repay such amount if it is
ultimately determined that he is not entitled to be indemnified by the
corporation.

         Section 1746 of the BCL provides that the indemnification and
advancement of expenses provided by, or granted pursuant to, the other sections
of the BCL shall not be deemed exclusive of any other rights to which a person
seeking indemnification or advancement of expenses may be entitled under any
bylaw, agreement, vote of shareholders or disinterested directors or otherwise.
However, Section 1746 also provides that such indemnification shall not be made
in any case where the act or failure to act giving rise to the claim for
indemnification is determined by a court to have constituted willful misconduct
or recklessness.

         The Corporation provides for indemnification of its directors and
officers pursuant to Article ELEVENTH of the Restated Articles of Incorporation
of the Corporation and Article XVII of the By-laws of the Corporation.  Article
ELEVENTH of the Restated Articles and Article XVII of the By-laws provide in
effect that, with respect to Proceedings based on acts or omissions on or after
January 27, 1987, and unless prohibited by applicable law, the Corporation
shall indemnify directors and officers against all expenses (including
attorneys' fees), judgments, fines and amounts paid in settlement incurred in
connection with any such Proceedings (subject to certain limitations in the
case of actions by such persons against the Corporation).  Under Article XVII,
the Corporation shall also advance amounts to any director or officer during
the pendency of any such Proceedings against expenses incurred, provided that,
if required by law, the Corporation receives an undertaking to repay such
amount if it is ultimately determined that such person is not to be indemnified
under such Article.  The indemnification provided for in such Articles is in
addition to any rights to which any director or officer may otherwise be
entitled.  Article XVII of the By-laws provides that the right of a director or
officer to such indemnification and advancement of expenses shall be a contract
right and further provides procedures for the enforcement of such right.

         The Corporation has purchased directors' and officers' liability
insurance policies indemnifying its officers and directors and the officers and
directors of its subsidiaries against claims and liabilities (with stated
exceptions) to which they may become subject by reason of their positions with
the Corporation or its subsidiaries as directors and officers.


                                    - 3 -
<PAGE>   4
Item 7.  Exemption from Registration Claimed

      Not applicable.


Item 8.  Exhibits

Exhibit No.        Description
-----------        -----------
         4.1       Restated Articles of Incorporation of the Corporation
                   (incorporated by reference to Exhibit 3(2) to the
                   Corporation's Quarterly Report on Form 10-Q for the
                   quarter ended March 31, 1994).
         4.2       By-laws of the Corporation, as amended (incorporated
                   by reference to Exhibit 3(c) to the Corporation's
                   Annual Report on Form 10-K for the year ended
                   December 31, 1994).
         4.4       1991 Long-Term Incentive Plan of the Corporation, as
                   amended. 
         5         Opinion of Angeline C. Straka, Vice President, Secretary 
                   and Associate General Counsel, as to the legality
                   of the securities being registered.
         23.1      Consent of Counsel -- contained in opinion filed as
                   Exhibit 5.
         23.2      Consent of Price Waterhouse LLP.
         24        Powers of Attorney.

Item 9.  Undertakings

         The contents of Item 9 of Registration Statement No. 33-53819 are
incorporated herein by reference.

SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, the
Registrant, Westinghouse Electric Corporation, certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Pittsburgh,
Commonwealth of Pennsylvania, on the 23rd day of August, 1995.

                       Westinghouse Electric Corporation


                        By:              /s/ Fredric G. Reynolds 
                            ----------------------------------------------------
                                            Fredric G. Reynolds
                            Executive Vice President and Chief Financial Officer

         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons on August 23,
1995 in the capacities indicated:

Signature                                  Title

                 *                         Chairman and Chief Executive Officer
---------------------------------          (principal executive officer)
(Michael H. Jordan)                        and Director


                 *                         President and Director
---------------------------------
(Gary M. Clark)


                                    - 4 -
<PAGE>   5
      /s/ Fredric G. Reynolds           Executive Vice President and Chief
---------------------------------       Financial Officer
(Fredric G. Reynolds)                   (principal financial officer and
                                        principal accounting officer)

                 *
---------------------------------       Director
(Frank C. Carlucci)

                 *
---------------------------------       Director
(Robert E. Cawthorn)

                 *
---------------------------------       Director
(George H. Conrades)

                 *
---------------------------------       Director
(William H. Gray III)

                 *
---------------------------------       Director
(David T. McLaughlin)

                 *
---------------------------------       Director
(Richard M. Morrow)

                 *
---------------------------------       Director
(Richard R. Pivirotto)

                 *
---------------------------------       Director
(Dr. Paula Stern)

                 *
---------------------------------       Director
(Robert D. Walter)


                                        *By   /s/ Fredric G. Reynolds 
                                              -----------------------
                                              Fredric G. Reynolds
                                               Attorney-In-Fact


                                    - 5 -
<PAGE>   6
                                EXHIBIT INDEX

Exhibit No.   Description                                                   Page
-----------   -----------                                                   ----
    4.1       Restated Articles of Incorporation of the Corporation          *
              (incorporated by reference to Exhibit 3(2) to the
              Corporation's Quarterly Report on Form 10-Q for the
              quarter ended March 31, 1994).

    4.2       By-laws of the Corporation, as amended (incorporated by        *
              reference to Exhibit 3(c) to the Corporation's Annual
              Report on Form 10-K for the year ended December 31, 1994).

    4.4       1991 Long-Term Incentive Plan of the Corporation,              *
              as amended.

    5         Opinion of Angeline C. Straka, Vice President, Secretary       7
              and Associate General Counsel, as to the legality of the 
              securities being registered.

    23.1      Consent of Counsel -- contained in opinion filed as            7
              Exhibit 5.

    23.2      Consent of Price Waterhouse.                                   8

    24        Powers of Attorney.                                            9


*Incorporated by reference.


                                    - 6 -
[{"type": "S-8", "sequence": "1", "description": "WESTINGHOUSE", "secsgml_size_bytes": 16059}]
1
   As filed with the Securities and Exchange Commission on August 23, 1995

                        Registration Statement No. 33-

                      SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                               ---------------

                                   FORM S-8
                            REGISTRATION STATEMENT
                                    Under
                          THE SECURITIES ACT OF 1933

                               ---------------

                      Westinghouse Electric Corporation
            (Exact name of Registrant as specified in its charter)

            Pennsylvania                                   25-0877540
            (State or other jurisdiction                   (I.R.S. Employer 
            of incorporation or organization)              Identification No.)

                   Westinghouse Building, 11 Stanwix Street
                        Pittsburgh, Pennsylvania 15222
  (Address of Registrant's principal executive offices, including zip code)

                      Westinghouse Electric Corporation
                        1991 Long-Term Incentive Plan
                           (Full title of the plan)

                           ANGELINE C. STRAKA, ESQ.
           Vice President, Secretary and Associate General Counsel
                   Westinghouse Building, 11 Stanwix Street
                       Pittsburgh, Pennsylvania  15222
                   (Name and address of agent for service)
                                (412) 244-2300
        (Telephone number, including area code, of agent for service)

                               ---------------

                        CALCULATION OF REGISTRATION FEE
Title of                                  Proposed                Proposed
securities           Amount                maximum                 maximum                 Amount of
   to be             to be              offering price            aggregate               registration
registered         registered            per share(1)         offering price(1)              fee(1)
Common
Stock,
par value
$1.00 per
share . . . . .     7,500,000               $13.25               $99,375,000               $34,267.48
(1)      Pursuant to Rule 457 under the Securities Act of 1933, the proposed
         maximum aggregate offering price and the registration fee are based
         upon the average of the high and low prices per share of the
         Registrant's Common Stock reported on the New York Stock Exchange
         Composite Tape on August 21, 1995.
- 1 -
2
                                   PART II

              INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.  Incorporation of Documents by Reference

     The following documents, each as filed by Westinghouse Electric
Corporation (the "Corporation") with the Securities and Exchange Commission
(the "Commission") pursuant to the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), are incorporated herein by reference:

         (a)   The Corporation's Annual Report on Form 10-K for the year
ended December 31, 1994.

         (b)   The Corporation's Quarterly Report on Form 10-Q for the
quarter ended June 30, 1995.

         (c)   The Corporation's Current Report on Form 8-K dated August 1,
1995.

         (d)   Description of the Corporation's Common Stock contained in its
Registration Statement on Form 10 filed pursuant to the Exchange Act on May 15,
1935, as amended or updated pursuant to the Exchange Act.

         All documents subsequently filed by the Corporation pursuant to
Sections 13(a) 13(c), 14 or 15(d) of the Exchange Act prior to the filing of a
post-effective amendment to this Registration Statement which indicates that
all shares covered hereby have been sold or which deregisters all such shares
then remaining unsold shall be deemed to be incorporated in this Registration
Statement by reference and to be a part hereof from the respective date of
filing of each such document.  Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the
extent that a statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such statement.  Any such statement so modified or
superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this Registration Statement.

Item 4.  Description of Securities

     Not applicable.

Item 5.  Interests of Named Experts and Counsel

         As of August 21, 1995, Angeline C. Straka, Vice President, Secretary
and Associate General Counsel of the Corporation, who has given an opinion as
to the legality of the securities being registered hereunder, held options to
purchase 60,275 shares of the Common Stock of the Corporation.

Item 6.  Indemnification of Directors and Officers

         Section 1741 of the Business Corporation Law of the Commonwealth of
Pennsylvania (the "BCL") empowers a corporation to indemnify any person who was
or is a party or is threatened to be made a party to any threatened, pending or
completed action or proceeding (a "Proceeding"),  whether civil, criminal,
administrative or investigative, by reason of the fact that such person is or
was a representative of the corporation or is or was serving at the request of
the corporation as a representative of another corporation or enterprise,
against expenses (including attorneys' fees), judgments, fines and amounts paid
in settlement actually and reasonably incurred by him in connection with such
Proceeding, if he acted in good faith and in a manner he reasonably believed to
be in, or not opposed to, the best interests of the corporation and, with
respect to any criminal proceeding, had no reasonable cause to believe his
conduct was unlawful.  Section 1742 of the BCL empowers a corporation to
indemnify any person who was or is a party, or is threatened to

                                    - 2 -
3
be made a party, to any threatened, pending or completed action by or in the
right of the corporation to procure a judgment in its favor by reason of the
fact that such person is or was a representative of the corporation or is or
was serving at the request of the corporation as a representative of another
corporation or enterprise, against expenses (including attorneys' fees)
actually and reasonably incurred by him in connection with the defense or
settlement of the action if he acted in good faith and in a manner he
reasonably believed to be in, or not opposed to, the best interests of the
corporation, provided that indemnification shall not be made in respect of any
claim, issue or matter as to which such person has been adjudged to be liable
to the corporation unless there is a judicial determination that in view of all
the circumstances of the case, the person is fairly and reasonably entitled to
indemnity for the expenses that the court deems proper.

         Section 1743 of the BCL provides that to the extent a representative
of a corporation has been successful on the merits or otherwise in defense of
any Proceeding, or in defense of any claim, issue or matter therein, he shall
be indemnified against expenses (including attorneys' fees) actually and
reasonably incurred by him in connection therewith.

         Section 1745 of the BCL provides that expenses (including attorneys'
fees) incurred in defending a Proceeding may be paid by the corporation in
advance of the final disposition of such Proceeding upon receipt of an
undertaking by or on behalf of the representative to repay such amount if it is
ultimately determined that he is not entitled to be indemnified by the
corporation.

         Section 1746 of the BCL provides that the indemnification and
advancement of expenses provided by, or granted pursuant to, the other sections
of the BCL shall not be deemed exclusive of any other rights to which a person
seeking indemnification or advancement of expenses may be entitled under any
bylaw, agreement, vote of shareholders or disinterested directors or otherwise.
However, Section 1746 also provides that such indemnification shall not be made
in any case where the act or failure to act giving rise to the claim for
indemnification is determined by a court to have constituted willful misconduct
or recklessness.

         The Corporation provides for indemnification of its directors and
officers pursuant to Article ELEVENTH of the Restated Articles of Incorporation
of the Corporation and Article XVII of the By-laws of the Corporation.  Article
ELEVENTH of the Restated Articles and Article XVII of the By-laws provide in
effect that, with respect to Proceedings based on acts or omissions on or after
January 27, 1987, and unless prohibited by applicable law, the Corporation
shall indemnify directors and officers against all expenses (including
attorneys' fees), judgments, fines and amounts paid in settlement incurred in
connection with any such Proceedings (subject to certain limitations in the
case of actions by such persons against the Corporation).  Under Article XVII,
the Corporation shall also advance amounts to any director or officer during
the pendency of any such Proceedings against expenses incurred, provided that,
if required by law, the Corporation receives an undertaking to repay such
amount if it is ultimately determined that such person is not to be indemnified
under such Article.  The indemnification provided for in such Articles is in
addition to any rights to which any director or officer may otherwise be
entitled.  Article XVII of the By-laws provides that the right of a director or
officer to such indemnification and advancement of expenses shall be a contract
right and further provides procedures for the enforcement of such right.

         The Corporation has purchased directors' and officers' liability
insurance policies indemnifying its officers and directors and the officers and
directors of its subsidiaries against claims and liabilities (with stated
exceptions) to which they may become subject by reason of their positions with
the Corporation or its subsidiaries as directors and officers.

                                    - 3 -
4
Item 7.  Exemption from Registration Claimed

      Not applicable.

Item 8.  Exhibits

Exhibit No.        Description
-----------        -----------
         4.1       Restated Articles of Incorporation of the Corporation
                   (incorporated by reference to Exhibit 3(2) to the
                   Corporation's Quarterly Report on Form 10-Q for the
                   quarter ended March 31, 1994).
         4.2       By-laws of the Corporation, as amended (incorporated
                   by reference to Exhibit 3(c) to the Corporation's
                   Annual Report on Form 10-K for the year ended
                   December 31, 1994).
         4.4       1991 Long-Term Incentive Plan of the Corporation, as
                   amended. 
         5         Opinion of Angeline C. Straka, Vice President, Secretary 
                   and Associate General Counsel, as to the legality
                   of the securities being registered.
         23.1      Consent of Counsel -- contained in opinion filed as
                   Exhibit 5.
         23.2      Consent of Price Waterhouse LLP.
         24        Powers of Attorney.

Item 9.  Undertakings

         The contents of Item 9 of Registration Statement No. 33-53819 are
incorporated herein by reference.

SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, the
Registrant, Westinghouse Electric Corporation, certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Pittsburgh,
Commonwealth of Pennsylvania, on the 23rd day of August, 1995.

                       Westinghouse Electric Corporation

                        By:              /s/ Fredric G. Reynolds 
                            ----------------------------------------------------
                                            Fredric G. Reynolds
                            Executive Vice President and Chief Financial Officer

         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons on August 23,
1995 in the capacities indicated:

Signature                                  Title

                 *                         Chairman and Chief Executive Officer
---------------------------------          (principal executive officer)
(Michael H. Jordan)                        and Director

                 *                         President and Director
---------------------------------
(Gary M. Clark)

                                    - 4 -
5
      /s/ Fredric G. Reynolds           Executive Vice President and Chief
---------------------------------       Financial Officer
(Fredric G. Reynolds)                   (principal financial officer and
                                        principal accounting officer)

                 *
---------------------------------       Director
(Frank C. Carlucci)

                 *
---------------------------------       Director
(Robert E. Cawthorn)

                 *
---------------------------------       Director
(George H. Conrades)

                 *
---------------------------------       Director
(William H. Gray III)

                 *
---------------------------------       Director
(David T. McLaughlin)

                 *
---------------------------------       Director
(Richard M. Morrow)

                 *
---------------------------------       Director
(Richard R. Pivirotto)

                 *
---------------------------------       Director
(Dr. Paula Stern)

                 *
---------------------------------       Director
(Robert D. Walter)

                                        *By   /s/ Fredric G. Reynolds 
                                              -----------------------
                                              Fredric G. Reynolds
                                               Attorney-In-Fact

                                    - 5 -
6
                                EXHIBIT INDEX

Exhibit No.   Description                                                   Page
-----------   -----------                                                   ----
    4.1       Restated Articles of Incorporation of the Corporation          *
              (incorporated by reference to Exhibit 3(2) to the
              Corporation's Quarterly Report on Form 10-Q for the
              quarter ended March 31, 1994).

    4.2       By-laws of the Corporation, as amended (incorporated by        *
              reference to Exhibit 3(c) to the Corporation's Annual
              Report on Form 10-K for the year ended December 31, 1994).

    4.4       1991 Long-Term Incentive Plan of the Corporation,              *
              as amended.

    5         Opinion of Angeline C. Straka, Vice President, Secretary       7
              and Associate General Counsel, as to the legality of the 
              securities being registered.

    23.1      Consent of Counsel -- contained in opinion filed as            7
              Exhibit 5.

    23.2      Consent of Price Waterhouse.                                   8

    24        Powers of Attorney.                                            9

*Incorporated by reference.

                                    - 6 -