Sykes to Cut Jobs, Predicts Drop in Profit
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Sykes Enterprises Inc., which handles technical-support phone calls for other companies, is cutting 1,030 jobs and said first-quarter profit and sales will fall from the year-earlier period as business slows.
The company will have expenses of as much as $16.5 million pretax, or 27 cents a share, in the fourth quarter to cut jobs, close offices and write off assets, Sykes said in a statement.
Profit in the first quarter will be 5 cents to 7 cents a share on sales of $110 million to $115 million, the company predicted.
Sykes shares fell 62 cents to $8.72 on Nasdaq.
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