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June 25, 1990

ING OLIVETTI INTENDS WORKFORCE CUTS

By CBR Staff Writer

Ing C Olivetti & Co SpA intends to cut its workforce by between 3,000 and 3,500 this year, and hopes to achieve the cuts by early retirement and government-subsidised redundancy programmes: the cuts, to reduce costs, will be made in all parts of the company; Olivetti says it is particularly worried about the overpriced lira exchange rate.

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