Imation to cut global workforce by 20 percent

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By Jim Buchta, Star Tribune

“Double-digit declines in sales at Imation will result in the loss of about 200 jobs worldwide and and a reorganization, the Oakdale-based company said Wednesday.

Third-quarter revenues were down nearly 20 percent compared with last year, to $248.2 million, with an operating loss of $6.5 million. That included a $3.6 million charge for restructuring, for a diluted loss of 17 cents per share.”

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