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  • REEBOK ANNOUNCES CUTS OF 500 JOBS IN RESTRUCTURING

              Reebok plans to cut 500 administrative jobs in the
         first quarter, or 10% of its work force, "as part of a
         multimillion-dollar restructuring to reduce costs,"
         according to a wire report in the BOSTON GLOBE.  It was
         "unclear where the cuts would fall."  Reebok President
         Robert Meers said the MA-based company wants a "more focused
         organization."  Meers: "This is a year of execution, not a
         year for broad-based marketing" (BOSTON GLOBE, 2/5). 
              RESULTS: News Corp. said net profit rose 23% in its
         second fiscal quarter ended December 31, '97.  Net profit
         rose to $396M, or $.41 a share, from $321M, or $.40 a share
         a year earlier.  In other news, CBS' media holding had a
         $10M loss in the quarter ended December 31, "an improvement
         compared" with a $63M loss during the same period a year
         ago.  Sales for the quarter jumped to $1.47B from $1B (WALL
         STREET JOURNAL, 2/5).  On "The Edge," CNBC's Sue Herrera:
         "Better but not good enough for CBS" (CNBC, 2/4).
         
    

    Print | Tags: CBS, Finance, News Corp./Fox, Reebok, Viacom
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