It has sold or closed several subsidiaries, cutting its total employment by more than 500, to about 3,000 now.

Chemical New York will cut its work force and sell several small subsidiaries.

The company also said it would sell its most profitable subsidiary, a commercial leasing unit.

They were forced to sell their Canadian subsidiary, itself in weak financial shape, and started a massive reorganization.

She said her efforts were already showing signs of success: white companies in the gas industry have begun to sell subsidiaries to black companies.

At the same time Springer sold loss-making subsidiaries and focused on its core business.

Shrinking assets, which could include selling property, subsidiaries and loans, may be the only option for many of the biggest banks.

As part of its reorganization and downsizing, Metallgesellschaft hopes to sell several large subsidiaries.

He said Volkswagen might also sell subsidiaries that make auto parts, further slimming its payroll.

Japanese enterprises expanded merit-based compensation, sold subsidiaries and moved production abroad.