EARNINGS ROUNDUP / CORNING
Times Wire Reports
Corning Inc. said it was cutting 3,500 jobs, or 13% of its payroll, as demand slumped for glass used in flat-screen televisions and computers.
The specialty glass and ceramics company announced the cutbacks as its fourth-quarter profit plunged 65% to $249 million, or 16 cents a share, from $717 million, or 45 cents, a year earlier. Sales fell 31% to $1.08 billion.
Corning shares climbed 4 cents to $9.99.
