Noranda expects to cut capital spending significantly next year, he added.
LONDON — BP, the British oil giant, reported third-quarter earnings that beat analyst expectations on Tuesday and said it expects to cut more costs this year than it had initially planned.
Hitachi expects to cut $1.5 billion in fixed costs in the next fiscal year, partly by cutting nearly 21,000 jobs, a third more than announced last year.
Motorola, the world's No. 2 mobile phone company, on Wednesday lowered industrywide growth expectations for cell phones and chips in 2003 and said it expects to cut more costs, including 3,000 additional jobs.
Motorola expects to cut 22,000 jobs.
Syngenta expects to cut over 3,000 jobs worldwide.
Gol expects to cut Varig's operating costs by 10-15% in the next three years.
Freightliner, based in Portland, Ore., expects to cut about $850 million in costs annually by 2004.
The company also expects to cut an undisclosed number of jobs.
The bank expects to cut the cost of systems administration by 10percentt.
But the company expects to cut costs in electronics such as inverters.
