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The research firm said it expects to reduce its estimates further in coming weeks as reports accumulate on the effects of the slowdown in the United States.
It also announced it expects to reduce its third-quarter dividend to common shareholders to preserve capital.
The Provo, Utah-based firm said it expects to reduce its overall quarterly cost of doing business by approximately $25 million.
It expects to reduce CO2 emissions by 12,000 tonnes and save £2m a year.
It expects to reduce costs by $300m£245m5m) annually through the cuts.
It has said, however, that it expects to reduce the number of options granted.
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The El Paso Corporation, a natural gas pipeline company, said yesterday that it expected to reduce its estimates of its oil and gas reserves.
AirTran, a low-fare airline based in Orlando, also said it expected to reduce its capacity by 5percentt in 2008.
JetBlue, which has grown rapidly since it began flying in 2000, said it expected to reduce its flights by 2percentt in 2009.
CommTouch Software Ltd., an Israeli maker of Web-based messaging software, said it would shut its electronic- commerce and small-business e-mail services units, and that it expected to reduce its work force by one-fifth in 2001.
Mr. Turan said it expected to reduce that figure to $9 million this year.
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