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September 13, 2002

Ericsson's credit rating was cut by Moody's Investors Service to two steps below investment grade, triggering a drop in the share prices for the Swedish telecommunications equipment giant.

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* Tokyo-based electronics maker Fujitsu Ltd. will cut 3,000 jobs, or about 1.8% of its global work force, at two Japanese plants. All the cuts will be carried out through a voluntary early retirement program.

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