*Pitney Bowes Suffers Loss, Cuts Jobs

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Pitney Bowes Inc. said yesterday that it would cut up to 800 jobs after posting a 17 percent decline in fourth-quarter net income, according to reports.


The company will take a $100 million charge in the first quarter as part of a restructuring.


The provider of mailing systems and postage meters reported a net income of $148.3 million, or 59 cents a diluted share, down from $178.1 million, or 66 cents a share from a year earlier.


The company blamed the losses on the slowing economy and increased competition. Pitney Bowes also suffered from disappointing results from its office-systems business. The division, which sells copiers and fax machines, will be spun off.


Pitney Bowes will announce more restructuring details in the first quarter.
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