Baltimore loss reduction aided by 600 job cuts

LOSSES at Baltimore Technologies were reduced substantially last year, helped by the loss of nearly 600 jobs. Full year results from Baltimore shows losses before tax fell to €96m from €972m in the year to end December 2002.

Baltimore, once ranked among Britain’s 100 most valuable companies, said the restructuring which included a fall in head count from 885 to 295 and the sale of several business units, had stemmed losses and put the company on a sound

financial footing. A further 30 jobs were cut in February.