The agency attributed the dismissals to a strategic restructuring that also included the elimination of 100 employees overseas and the closing of an office in Colombia.

Opponents of the bill say the provision should be interpreted broadly to include strategic restructuring of an enterprise.

The company said it would continue with its strategic restructuring to streamline its operations and focus its resources on its core banking business.

Fleet said its decision was part of a strategic restructuring.

"Fighting to defend higher-cost jobs in an industry undergoing strategic restructuring ultimately can have little success," Mr. Leuliette said.

The firm focuses on international buyouts, growth and strategic restructuring in five core sectors.

He played a major role in the strategic restructuring of the Malaysian economy.

The fast-growing savings company plans to undertake a strategic restructuring later this year and needs a professional manager to help guide its direction, said Thomas Spiegel, Columbia's chief executive.

As of January 2005 the company announced a strategic restructuring away from being a chip product company to an intellectual property company.

This strategic restructuring also created confusion in the FBI in the mid 1970s as to who the official underboss in the family was.