US forest products company Weyerhaeuser is cutting almost a quarter of the workforce at its Seattle headquarters.
The job cuts, which account for around 26% of the 2,850 staff employed there, follow the 2,100 other positions the company has already earmarked for elimination in a bid to shave costs and stay competitive.
The company said most of the new cuts will occur in 2003, with some this year and some in 2004. And while they will affect employees at all levels and all departments, finance and IT will be worst hit.
