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The Swissair Group, its precarious finances hit hard by the slump in travel, said today that it would take radical steps to reorganize by reducing its work force and its long-haul flight schedule.
Lucent hopes to cut costs substantially by reducing its work force.
The company has cut costs, primarily by reducing its work force, as corporate spending on software and computers slows.
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After the subsequent bailout by the British government, senior managers focused on reviving the bank by selling off assets, reducing its work force and curbing exposure to risky trading activity.
[C11.] Nortel to Cut Work Force by 20,000 Nortel Networks said that it was cutting 10,000 jobs and reducing its work force by 10,000 more jobs through the sale of businesses.
UBS said earlier this month it would slash 5,500 jobs, reducing its work force by another 7percentt.
Agency.com Inc., an Internet-consulting company, said it would cut 350 jobs, reducing its work force by 25percentt, after reporting that its first-quarter loss had widened.
[C7.] Alitalia Union to Fight Layoffs A day after the airline Alitalia said that it would cut 5,000 jobs, reducing its work force by almost 25percentt, its unions promised to fight the layoffs through a variety of actions, from more negotiations to brief hunger strikes.
Nortel Networks of Canada said yesterday that it was cutting 10,000 jobs and reducing its work force by an additional 10,000 jobs through the sale of businesses, leaving the company with fewer than half the employees it had at the beginning of the year.
In the past two years it has laid off about 7,000 employees, reducing its work force by 30%.
The company is still reducing its work force by 8,000 employees -- 20percentt -- mostly by layoffs.
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CEO of Professional Science Editing for Scientists @ prosciediting.com