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Firms cutting 6,000 jobs

Monday, Sept. 10, 2001 | 11:06 a.m.

Qwest Communications International of Denver said today it is cutting 4,000 jobs, or 6 percent of its work force, and lowered its financial forecast for the fiscal year, citing deteriorating economic conditions.

The telecommunications company said it expected 2001 revenue of approximately $20.5 billion, down from previous estimates of $21.3 billion to $21.7 billion.

Qwest Chief Executive Joe Nacchio cited declining economic conditions including high unemployment, slow growth in the gross domestic product and other indicators.

Separately, Michelin North American Inc. of Greenville, S.C., today said it plans to cut its work force by 2,000 jobs, or 7 percent, by the end of 2003 as it works to cut costs amid a downturn in tire markets.

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