A heat shrinkable film suitable for use in cook-in applications is provided which exhibits a transverse direction free shrink at 50.degree. C. of less than about 2% and a transverse direction free shrink at 57.degree. C. of at least about 3%. The film has at least two layers. The first layer includes an ethylene/vinyl alcohol copolymer and the film has a second layer directly adhered to the first layer, the second layer including at least one member selected from the group consisting of polyester, polyamide and polyurethane. Preferably, the desired shrink properties are attained by annealing the film under controlled conditions.