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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Valueman who wrote (1779)	1/29/1998 4:10:00 PM
From: Snake	Respond to of 10852

Loral Space To Cut 300 Jobs As 2 Asian Jobs Are Suspended PALO ALTO, Calif. (Dow Jones)--Loral Space & Communications Ltd.'s (LOR) Space Systems/Loral unit will eliminate up to 300 jobs, or 9% of its work force of 3,400 employees, over the next few months. In a press release Thursday, Loral said the suspension of work on three satellites for two Asian programs prompted the job cuts. The satellites, known as L-Star 1 and L-Star 2, were scheduled to be delivered to Asia Broadcasting & Communications Network Public Co. of Bangkok in the second quarter and in the fourth quarter. ---------------------------------------------------------------------- Pretty much as expected. Release does not say much though. Maybe more to come later. probably not enough to justify stock decreasing like it did today. Oh well.