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The retailer has been fighting a losing battle with the supermarkets and needs to slash its overheads.
To get there, however, the grocer needs to slash a further £1.5bn from its cost base by making its stores and distribution network more efficient.
In particular, he needs to slash the size of the police force, which numbers 80,000 in a country of barely eight million people, and disband special units assigned to monitor and harass dissidents.
To reach his 15percentt goal, Mr. Spano needs to slash another $45 million by the 2002 budget season, when he will present the last budget of his current four-year term.
Mr. Netanyahu says Israel cannot afford its large public sector and needs to slash spending and dismiss workers as part of a market-oriented restructuring program that seeks to revive an economy in its third year of recession.
United needs to slash $9 billion in order to survive.
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"You need to slash it more".
It will need to slash these without damaging growth, which will require a tricky balancing act.
"In order to possibly emerge from bankruptcy, they also need to slash their cost structure significantly.
Local government will need to slash services if they are to freeze council tax.
But this year, many resorts are feeling the need to slash prices to get travelers to fill rooms.
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