Amaranth cutting half its staff; seeks to place
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Stricken hedge fund group Amaranth Advisors LLC said it is laying off about half its staff to cut operating expenses as it liquidates its portfolio in the wake of the worst hedge fund loss ever.
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Chemicals group DuPont Co.  said on Monday it would close or streamline 10 plants and cut 1,500 jobs - 2.5 percent of its overall workforce - as part of a plan to restructure its nutrition and crop protection business.
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DETROIT -- Ford took drastic steps yesterday to remold itself into a smaller, more competitive company, slashing thousands of jobs and shuttering two additional plants to cut costs and fend off a financial crisis.
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The Longaberger Co. is reducing the size of a planned layoff to 784 employees, down from its July estimate of 970. The Newark-based basket maker said the jobs will end Sept.
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Some 50 staffers or more are being let go, and senior aides will be subject to pay cuts, campaign officials said.
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LION bioscience has said it plans to cut its headcount by at least 50 per cent as part of a new restructuring drive, with most cuts being felt at the company's facilities in Heidelberg, Germany.
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Paper maker UPM-Kymmene started talks Monday to lay off up to 1,200 employees &#151; more than 3 percent its work force &#151; and close some mills in Finland because of oversupply in the sawn timber trade.
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Computer Associates International announced on Wednesday that it plans to cut 5 percent of its work force as part of a restructuring effort, a move that comes as the company seeks to rebuild itself after a long-running accounting scandal.
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Company cutting 375 jobs to eliminate redundancies in wake of ATI acquisition.
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Nortel Networks Ltd. (NYSE/Toronto: NT - message board) today fleshed out its staff reduction plans by announcing that 3,250 posts will be cut, down from the expected 3,500 (see Nortel Cuts 3,500 Jobs ). North
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The retailer narrows its focus, but its work isn't done.
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UPM-Kymmene, Finland's second largest forestry and paper group, said it would lay off 750 workers at five of its Finnish wood product mills due to an oversupply of sawn timber on the European market.
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The struggling chipmaker will eliminate around 10 percent of its workforce -- most cuts coming in management, marketing and IT -- as part of its biggest restructuring since the mid-1980s.
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Â· Work pressures 'reduced woman to despair' Â· Coroner urges rule makers to consider effects on staff
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Colgate-Palmolive yesterday announced plans to cut 12% of its workforce and close a third of its 78 factories worldwide as it struggles with rising raw material and energy costs and intense competition.
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US firms cut back on the total number of staff employed for the first time in four years, official data shows.
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Amaranth Advisors LLC, the Connecticut   hedge fund that lost billions of dollars in energy trades in   the last few weeks, told investors it has completed   negotiations to transfer its energy portfolio to "a third   party," according to a letter obtained by Reuters.