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Dow Jones Cutting Up to 300 Data Unit Jobs

MEDIA | NATION / WORLD

November 20, 1997|Bloomberg News

Dow Jones & Co. said it will cut as many as 300 jobs in its Dow Jones Markets financial news and data unit and take a fourth-quarter charge as it scales back its plans to pump $650 million into the unit. The amount of the charge is undetermined but will be "very sizable," the New York-based company said. The unit, which is beset by competition, has been a drag on the company's earnings for the last year. Dow Jones shares lost 69 cents to close at $47.44 on the NYSE.

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