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Havas to Cut 850 Jobs, Shed 20 Companies in Restructuring

NEW YORK French holding company Havas said last week that it will eliminate 850 jobs, or about 5 percent of its workforce, by the end of the year as part of a $203 million restructuring plan. The cuts follow the shedding of 747 positions in the first half. Havas posted a first-half loss of $65.8 million. Bob Schmetterer, Havas president and COO, also said the company will sell or close 20 undisclosed units.

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