ITT confirmed that a meeting with Minneapolis financier Irwin L. Jacobs took place March 14 but denied a Wall Street Journal report that Jacobs had submitted a plan for spinning off various ITT units . . . Milpitas, Calif.-based Xicor said it reduced its work force to 610 from 740 and will shorten its workweek to four days because of weak business conditions . . . Long Beach-based Jet America said it deferred delivery of four McDonnell Douglas MD80 jet transports for one year . . . City of Commerce-based Federated Group authorized a 3-for-2 stock split in the form of a stock dividend on each share of its outstanding common stock, payable May 3 to shareholders of record April 10 . . . Earle M. Jorgenson Co. of Los Angeles withdrew its $23-per-share cash tender offer for Atlanta-based J.M. Tull Industries.