Job Cuts At Baccarat

Baccarat plans to cut 96 jobs including those of 64 glass workers following a 48% slump in operating income during 2002. The move follows 85 job cuts last year. Turnover fell by 1.5%. Consolidated sales rose by 2.3% but exchange rate variations meant sales income fell 1.5%. Baccarat exports 80% of its production. The company intends to introduce lower priced products while developing competitiveness, and will increase its sales force. (whole item)