Varig to cut 50pc jobs

RIO, JANEIRO, July 29: Brazilian airline Varig has announced it is cutting its workforce in Brazil by more than 50 per cent. The company said it would slash 5,500 of its 9,485 local jobs, a week after Varig was purchased by a US-Brazilian investor group for a knockdown $24 million, saving the once-proud national carrier from liquidation.—AFP

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