Sara Lee Corp. announced it would eliminate 7,000 employees from the company's 154,000-strong workforce in 40 countries. Although a spokeswoman said specifics of the cuts still have to be worked out, she said they have nothing to do with the company's announcement Wednesday that it will sell eight more of its 100-plus businesses, including Champion Europe, Sara Lee Apparel Austral-asia, and several international bakery operations. That makes a total of 14 companies planned for sale, representing more than $4.5 billion in revenue, since last year. The Chicago-based company's brands currently include Sara Lee baked goods, Hillshire Farms sausage, Ball Park franks, Hanes underwear, and Playtex lingerie.
Sony Electronics Inc. said it plans to stop making cathode-ray tubes for computer monitors in the US, resulting in the elimination of 500 workers. The affected plant, in the San Diego community of Rancho Bernardo, will continue with other operations, including the manufacture of picture tubes for TV sets. Production of the tubes for monitors will be shifted to Asia and other regions outside the US, but specific locations have not been decided upon, a company spokesman said.
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