USA: Lear chops 6,500 jobs, 21 factories
Automotive parts supplier Lear Corporation is eliminating 6,500 jobs and shutting 21 factories, according to Associated Press (AP) which added that the cuts and closures began in December. The company made the announcement on Friday as it reported a fourth quarter loss of $US48.8 million, or 74 cents a share, for the fourth quarter of 2001, down from earnings of $72.4 million, or $1.12 a share, for the same period the previous year, AP said.
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