Clothing manufacturer Styl Ruhagyar Rt says it will cut 450 of its 1,000 jobs by the end of the first half of 2005.

Styl Ruhagyar, which is currently in liquidation, expects to post a loss of HUF300 million and revenue of HUF3.5 billion for 2004.

Two of the company's creditors filed claims against it last month.