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March 21, 1997updated 05 Sep 2016 12:39pm

GRUNDIG LOOKS TO CUT OPERATING LOSSES WITH JOB CUTS

By CBR Staff Writer

Grundig AG says it expects to cut operating losses to less than $60m this year, down $230m last year. Its management board chairman Pieter de Jong told a news conference in Nuremburg that achieving this earnings target was an absolute must and that Grundig planned to cut 1,700 jobs this year, which would cut the workforce to 5,000.

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