Damages cut to $2 from $5.5M in Food Lion case
Article Abstract:
The $5.5 million jury verdict against ABC News was cut to $2 million by a federal appeals court. In Jan 1997, the broadcast firm was found guilty of trespassing against Food Lion by using fraudulent methods in their news gathering. Producers Susan Barnett and Lynne Dale applied to work in Food Lion without mentioning their positions in ABC. The appeals court ruled that Food Lion tried to circumvent the First Amendment but agreed that the ABC producers had committed trespassing.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1999
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Citigroup to cut 10,400 jobs; other banks also trimming
Article Abstract:
Citigroup a financial services institution is planning to cut 10,4000 jobs which is equavalent to 6% of its global workforce. The redundancy plan will include 3,650 employees in the US and the cuts in workforce is expected to result in a $900 mil charge. The restructuring of the financial services company will result in savings of $680 mil in 1999 and $975 mil in the year 2000. Citigroup is also hoping that the layoffs will boosts earnings by $1 bil in the coming years.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1998
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