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Air Products & Chemicals Trims Guidance, Cutting Jobs
Air Products & Chemicals(APD Quote) just announced it is lowering its financial outlook for the first quarter of fiscal 2009, and will be cutting 7% of its workforce.
The company said it needs to lower its cost structure and better align its businesses to reflect rapidly declining economic conditions. The company will be slashing 1,300 jobs in an effort to reduce fixed costs by about $50 million for 2009. The company said the move is expected to save the company $110 million in fiscal 2010 and beyond. ...
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