USA: Cone Mills Announces Job Losses
Denim and textile producer, Cone Mills, has announced that it is to implement a series of cut-backs, including the loss of jobs, to improve slumping profits and help finance a second denim plant in Mexico. A tough retail climate has prevented the fabrics maker from raising its prices despite facing soaring costs, but the company is working on a plan to help recover its losses, reports the News and Record.
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