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D&B Restructuring
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Business New Haven
1/10/2000
By: BNH
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MURRAY HILL, N.J. - In a plan to save $40 million annually by the year 2001, Dun & Bradstreet Corp. (NYSE: DNB) announced on December 17 a 5.6-percent reduction of its workforce, by 700 jobs. Also, the company says that the restructuring efforts will result in better customer service, reduced structural costs and improved efficiencies. The company will incur a restructuring charge of approximately $40 million in its 1999 fourth quarter.
In a separate announcement, D&B said it will continue with the spinoff of its Moody's Investors Service. The company announced that it will engage Goldman Sachs to work on the deal.
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