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* Burlington Industries Inc., the nation’s third-largest fabric maker, said it is cutting 1,600 jobs, or 8.7% of its work force, in the U.S. and Mexico, shedding plants and selling assets to improve profitability. Burlington said its sales have been hurt as consumers are buying more casual clothing, lessening demand for fabric that’s used to make men’s suits and women’s tailored clothing. The company said it expects to report losses for its fiscal quarter and year ending this month as it takes charges for the restructuring.
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* Homestore.com Inc. said it has acquired Hessel Group, which makes software used by companies and government agencies to coordinate relocating employees. Terms were not disclosed. Thousand Oaks-based Homestore.com controls more than 90% of home listings on the Internet.
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