Hungary's Matav to cut a quarter of its workforce
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Matav, Hungary's biggest telecommunications company, will eliminate 3,750 jobs or 25 percent of its workforce within two years in a cost-cutting measure aimed at confronting fierce industry competition, the firm said in a statement posted on its website.
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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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The BBC, the world's biggest public broadcaster, is to cut almost a quarter of its 28,000-strong workforce, in the biggest shake-up in its 82-year history, The Times newspaper said.
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NEW YORKâSoftware maker Computer Associates International Inc. says it will cut 800 jobs, or 5 per cent of its workforce, to reduce costs amid weaker demand and falling prices for software and services.
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At least 7,000 jobs are set to go at computer firm Dell after it said it would cut its global workforce by about 10%.
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Marsh &amp; McLennan Cos., the world&#39;s largest insurer, announced a five-per-cent cut to its workforce on Tuesday, in hand with a big decline in its third-quarter results.
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By JORDAN ROBERTSON, THE ASSOCIATED PRESS  SAN JOSE, Calif.  Chip maker Intel Corp. said Tuesday that it will eliminate 10,500 jobs  about 10 percent of its workforce  through layoffs, attrition and  the sale of underperforming business groups as part of a massive restructuring.
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Iomega Corp. will cut its workforce by 25 percent and end development of its DCT (Digital Capture Technology) product line in a restructuring aimed at cutting costs and
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General Motors Corp., the world&#39;s biggest carmaker, will cut as many as 12,000 jobs in Europe, almost a fifth of its workforce in the region, after $3 billion in losses in the past four years.
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General Motors yesterday reached an agreement to slash nearly a third of its German workforce in a government-supported deal that could cost the US carmaker about $1 billion (Â¤750,824 million).
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The Hungarian central bank cut its benchmark interest rate by 0.50 percentage points to 11.0 percent in what was seen as an attempt to weaken the country's currency.
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- Kemet Corp  said it would cut its global workforce by 385 employees, including about 120 in the United States and about 250 in Mexico, leading to annual cost reduction of about $16 million and an one-time cost of about $7 million.
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The Houston Chronicle said on Tuesday it will lay off about 5 percent of its work force, the latest round of job cuts in a U.S. newspaper industry hit by declining advertising sales.
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The Hungarian central bank lowered its benchmark interest rate by 50 basis points, from 11.0 percent to 10.5 percent, the bank said in a statement posted on its website.
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U.S. investment bank Goldman Sachs plans to sack about 5 percent of its global workforce in coming months after its annual staff evaluation, a company spokesman said on Friday.
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Singapore-based electronics manufaturer Flextronics plans to lay off 900 workers in Hungary in response to falling market demand for products assembled at one of its plants, spokesman Gabor Sarlos said.
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Indianapolis-based drug manufacturer, Eli Lilly, is eliminating 575 US jobs, in order to streamline operations and become more competitive.