Over the last several years the company has taken charges of L455 million, or $720 million, to finance cost-cutting programs.

Still, a new cost-cutting program will go into effect.

Digital Equipment stock jumped more than 4 percent after the company confirmed a big cost-cutting program.

The 29,500 job cuts include 7,200 that were part of a previously announced cost-cutting program.

The company said last month that about 900 people would be let go as part of a $75 million cost-cutting program initiated in November.

But the impact of Sears's cost-cutting program is beginning to show up in the company's financial results.

In cases where people did propose cost-cutting programs, their superiors were too busy to listen.

Ahold is in the midst of a major cost-cutting program.

Analysts said the company's earnings had benefited somewhat from a cost-cutting program.

American's cost-cutting program stands apart from those of its largest rivals.