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Netscape Cuts Back, Eliminates 400 Jobs

Netscape Communications Corp. will cut its work force by about 400 people to reduce costs after projecting a quarterly loss of more than $80 million, company officials said Thursday.

The cuts equal about 15 percent of the 3,200 full-time and contract employees at the Internet browser company.

Final numbers and the official announcement of layoffs will not be made until Jan. 27, when quarterly figures are computed, spokeswoman Chris Holten said.

Officials hope the cuts will offset losses the company has suffered as a result of increased pressure from rival Microsoft Corp. and soft sales in Asia and Europe.