The company said its third-quarter profit was $781 million and came on a 7 percent sales increase.

The company reported a 41 percent drop in third-quarter profits.

Without the extraordinary effect, third-quarter profit would be 64 percent higher than the year before.

Third-quarter profits were also down at some other major carriers.

BP reported that its third-quarter profit rose 34 percent, to $6.46 billion.

Analysts had expected a third-quarter profit of 3 cents a share.

The layoffs were announced as the company reported almost no growth in third-quarter profit.

Last year, the company reported third-quarter pretax profit of L285 million.

BP posted a 34 percent increase in third-quarter profits, to $6.46 billion.

The company reported a 57 percent rise in third-quarter profits from the 1987 period and is expecting a good fourth quarter.