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IM Internationalmedia to cut staff by more than 30%

Following last week's announcement of pre-tax losses of $36.1m in the first nine months of 2002, production and finance group IM Internationalmedia has unveiled an extensive cost reduction programme to reduce expenses by Euros 28.7m and predicted that revenues for 2003 would be between Euros 330m-350m, well above this year's estimated result of Euros 250m-260m.

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