Japan's Postal Service to Cut Jobs

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Japan's Postal Services Agency is considering cutting as many as 20,000 jobs in five years out of a total of 300,000 employees, according to a report yesterday from Bridge Information Systems Inc.

According to a Japan Postal Services spokesman, the slimming down is an attempt by the agency to return to profitability as it prepares to transfer its mail, savings and life insurance operations to a public corporation in 2003.

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