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Abbott Lays Off 700
Abbott Laboratories is cutting 700 jobs from its factory on Ynez Road, the largest-scale layoff in several years for an area whose economy is fighting to overcome a weakened construction industry and record numbers of foreclosures. Abbott’s cuts Tuesday follow weakened demand for stents, tiny wire-mesh tubes implanted in blood vessels to keep them from collapsing.
The Californian
The Californian
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