R.J. Reynolds cuts 40% of the company....


Posted by Julias Jaded Jester ® , Sep 25,2003,20:32   MetroBlab
R.J. Reynolds announced that it will cut 40% of its staff to cut costs and focus on marketing two of its brands.

Stock went up 14%.

'Downsizing, rightsizing, layoffs and firings.'

Terminations, eliminations, renovations and revocations....

And 17 hundred folks in Winston Salem are all LOSING THEIR JOBS.

With the highest unemployment in 20 years?

Smith Barney ANALyst Bonnie Herzog raised her rating on the stock to the 'buy' level....

shareholders are happy?

Buncha folks lost their jobs.

Are you better off NOW...than you were four years ago?



--modified at Thu, Sep 25, 2003, 20:49:49