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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: RMMOYER who wrote (68968)	3/27/2001 8:54:30 PM
From: StockDung	Respond to of 122087

Chinadotcom Cutting 400 Jobs, Closing Offices Hong Kong, March 27 (Bloomberg) -- Chinadotcom Corp. said it will cut about 400 jobs, close offices and consolidate operations worldwide by the end of the second quarter to reduce costs. China's largest Web site operator said it will have less than 2,000 employees by the end of the second quarter. It employed 2,417 people at the end of December, the company said in a press release distributed by PR Newswire. Company officials didn't immediately return a phone call seeking comment. Chinadotcom said it will maintain its presence in countries where it does business as it closes or scales back operations in Korea, Singapore, Hong Kong, Shanghai, Taiwan, China, Japan and the U.S. Chinadotcom said it expects to take charges in the next few quarters related to the reductions. The shares of the Hong Kong- based company rose 28 cents, or 11 percent, to $2.78. Mar/27/2001 16:38 ET For more stories from Bloomberg News, click here. (C) Copyright 2001 Bloomberg L.P.