HEALTH CARE
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U.S. Surgical Corp. to Cut Jobs, Freeze Wages: The maker of surgical products, suffering its second consecutive quarterly loss, plans to eliminate 700 jobs worldwide, representing 8% of its work force, and move to a four-day work week to cut costs. Chairman Leon Hirsch, who will take a 20% pay cut, blamed the loss on a switch in the company’s distribution system, intensified competition and the uncertainties caused by President Clinton’s health reform plan. The company reported a third-quarter loss on Thursday of $14 million, or 26 cents a share.
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