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Chanel to Cut 200 Jobs

As if we didn't already have enough signs that 2009 is going to be a lean year, The Guardian is reporting that they will be cutting 200 jobs, most of which will fall within their production workforce. Chanel is blaming a slow down in their luxury sales which is in line with predictions from JP Morgan citing that the luxury market will see sales fall by 4% in 2009.

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