Clothing manufacturer cuts 1,850 jobs in Australia

SYDNEY (AFP) — Clothing manufacturer Pacific Brands said Wednesday it would cut 1,850 jobs in Australia after reporting a first-half loss of 150 million Australian dollars (98 million US).

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The company, whose brands include Bonds, Jockey, Clarks and Dunlop, said it would close most of its Australian clothing and manufacturing operations, making about 21 percent of some 8,800 employees redundant. The announcement sent its share price tumbling 37 percent to 22 cents on the Australian stock market...more

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