October 19, 2000
* Owens-Illinois Inc., a maker of plastic and glass containers, said it's cutting about 350 jobs, or about 10% of its U.S. work force, as part of a plan to save about $50 million annually. The company said it will cut most of the jobs by offering early-retirement incentives. The announcement came as the company reported a 17.5% decline in third-quarter profit to $63.9 million, or 40 cents a share, on flat revenue of $1.43 billion. The results missed expectations of 43 cents.