Article: JAPAN'S AMADA GROUP EYES QUICK RECOVERY WITH 500 JOB CUTS.

TOKYO, July 22 Asia Pulse - Amada Co. (TSE:6113) announced Friday a restructuring plan calling for reducing its domestic group payroll of 5,000 by 500 employees and consolidating subsidiaries whose businesses overlap, aiming to rapidly boost profitability.

The leading maker of sheet-metalworking machines and forging presses expects its second straight group net loss in the current year through March 2003, due to weak capital investment mainly by IT-related firms.

Amada will in August try to persuade employees who have been with the group for at least ...

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