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October 24, 1998

Dreyer's Grand Ice Cream Inc. said it will cut jobs and sell some ice-cream equipment operations, taking pretax charges of $60 million and $65 million, to cut costs and return to profitability. Oakland-based Dreyer's, the largest U.S. ice cream company, also reported a third-quarter loss of $5.98 million, or 23 cents a share, contrasted with net income of $4.97 million, or 13 cents, a year ago. The loss included a portion of the restructuring charges. Higher dairy costs affected results, Dreyer's said.

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