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Sunbeam cuts expected
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November 12, 1996: 8:33 a.m. ET
CEO may announce layoffs, sale or discontinuation of weak product lines
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NEW YORK (CNNfn) - Appliance maker Sunbeam Corp. is expected to announce layoffs Tuesday of up to 4,000 people, or one third of its 12,000 employees.
Analysts also anticipate Sunbeam will sell or discontinue weak product lines in an effort to revive the company, whose earnings have been short of expectations for seven consecutive quarters.
Albert Dunlap -- the aggressive cost-cutter with the nickname "Chainsaw Al" who has been Sunbeam's chief executive since July -- is expected to announce a new global marketing strategy later Tuesday.
Sunbeam makes a variety of products, including small appliances, patio furniture and gas grills.
Analysts predict that at least 30 percent of Sunbeam's employees will be let go, 75 percent of the company's 42 plants and warehouses will be closed and the number of suppliers will be cut back from 1,000 to 100.
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