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Royal and Sun to lay off 1,500 workers

LONDON, June 19 (UPI) -- Britain's Royal and Sun Alliance insurer will dismiss 1,550 workers, with 1,000 of those being British-based employees.

R&S, which employs 10,000 in Britain, wants to dramatically slash operating costs, Sky News reported Monday.

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The layoffs will be complete by July 1, 2008, a spokesman said.

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