Cathay cuts costs, reduces capacity as operating costs rise
Hong Kong-based Cathay Pacific Airways, which has warned its first-half results are ``expected to be disappointing,'' said it will cut costs and reduce capacity as operating costs rise due to high fuel prices and economic uncertainty.
Liz Claiborne Inc. today announced that it is implementing additional cost reduction initiatives in response to the highly uncertain economic environment, including the elimination of approximately 725 positions or 8 percent of its US workforce, the previously reported closing of its distribution center in Mt.