Goldman's headcount was 49,100 as of September, according to a report by Insider. L3Harris CEO and Chair, Chris Kubasik, and CFO, Michelle Turner, will host an approximately 45-minute call on October 28, 2022 at 8:30 a.m. EDT focused on questions and answers. Reviews from L3Harris employees about L3Harris culture, salaries, benefits, work-life balance, Not a great culture, constant changes and layoffs . The cuts, which would be equivalent to about 3% of Amazon's corporate workforce, would be the largest in company history. Save my name, email, and website in this browser for the next time I comment. The digital media company cut about 180 workers, citing "challenging macroeconomic conditions," according to an SEC filing. 2.Lido Learning Mumbai-based edtech startup, Lido Learning, had laid off over 150-200 employees, according to some employees told Inc42. "As a business, during these uncertain times, we owe it to our investors and customers to accelerate our timeline to profitability. Video app Cameo laid off 87 people in early May. etc.). Rent has doubled in many areas due to demand and lack of availability. Messages relating to layoffs at L3Harris Technologies are presented below the company info. The company laid off around 450 people this summer - with one round of layoffs affecting 150 workers in May, and another round affecting 300 in June. readmore, No longer the company the founders imagined. Armenian authorities are trying to legitimize their mistakes made in 2020-2022 12:55 Karabakh parliament speaker: We don't need . Ben Gilbert contributed to an earlier version of this article. In mid-October, the retail giant filed a Worker Adjustment and Retraining Notification, or WARN notice in Georgia, announcing its plans to let go of nearly 1,500 workers. Crypto exchange platform Coinbase will cut another 60 jobs, The Information reported. This announcement comes two days after several outlets reported thataccording to a person familiar with the matterthe ecommerce company could cut approximately 10,000 jobs, or around 3% of its corporate workforce, though the final number may be different. Jacobs promotes new divergent solutions leader. "There are companies out there that are maybe more focused on software that are starting to make progress to disrupt the industry. So CPI is 6.something percent, real inflation is around 18.something percent. Licht had initially pledged that there would be no layoffs when taking the role of CNN's CEO in April 2022, but later changed course. Sign up for free newsletters and get more CNBC delivered to your inbox. traffic on our website. privacy request at our Do Not Sell page. Read L3Harris is Hiring While Layoffs Stay Low in the Defense , Date; Received Company City/County Potential Number; Affected 07/12/2022 Cosmax USA Solon/Cuyahoga 122 07/08/2022 Zone Safety LLC Columbia Station/Lorain 77 06/29/2022 VSP Optical Group, Inc. Columbus/Franklin 38 View 30 more rows, https://www.tn.gov/workforce/general-resources/major-publications0/major-publications-redirect/reports.html, Date Notice Posted: 2022/4/27 | Company: Compass Groups USA Inc. dba Chartwells | County: Montgomery | Affected Workers: 119 | Closure/ Layoff Date: June 30, . As previously announced, the company will host an approximately 45-minute call on July 29, 2022 at 8:30 a.m. The automaker has estimated that electric cars require 30% less labor than conventional vehicles. readmore, To be clear, L3 Harris is not a defense contractor. I got mixed feelings after visiting this website, though I was super excited to sign my offer. Als het probleem zich blijft voordoen, We also share information about your use of our site with our social media, advertising At the plant "We all had gotten raises and bonuses just a month prior.". The cuts stem from slower business growth, paired with rising labor costs. The cuts will mainly impact Carvana's corporate and tech departments, CNBC reported. The L3Harris Airline Academy in Ponte de Sur, the former Aerocondor, in the Portalegre area, will close its doors at the end of September. These include white papers, government data, original reporting, and interviews with industry experts. I have an offer from l3Harris and I need to decide. It's your choice On Nov. 9, Mark Zuckerberg told to employees that Meta would be reducing its staff by approximately 13%. We also offer ebooks, audiobooks, and more, for only $11.99/month. Although far fewer investment banking businesses have cut jobs as tech or real estate companies, the industry is more used to the practice. readmore, It looks like L3H is doing everything to get employees to leave voluntarily. Si On Oct. 26, Seagate Technology announced a. Carvana let go of 12% of its workforce, or 2,500 people, on May 10. To avoid anti-trust issues, Harris sold its night vision operations to Elbit Systems in a deal valued at $350 million. Ford confirmed that it is cutting 3,000 salaried and contract. Jan 9, 2021 A few of my colleges and I were laid off two and a half weeks before the holidays just so the company could save a little bit of money. Title. Below are ten of the largest U.S. real estate industry layoffs in 2022: On Nov. 9, Juul announced its plan to layoff 30% of its workforce, or approximately 400 employees, as part of its efforts to stave off bankruptcy. For more information about the First and Third Party Cookies used please follow this link. The return of this practice suggests that, should capital markets continue to decline, it could be the beginning of a trend. Net income dropped 8 to 6.3 billion, as earnings took a hit when the company had to fund a pension settlement charge. In September, Nordstrom filed a WARN notice in Iowa announcing that it planned to cut 222 employees at a distribution center in Cedar Rapids. Visit our newsroom and learn how were delivering trusted national security solutions at the pace of a technology disruptor. The Great Resignation describes the elevated rate at which U.S. workers have resigned from their jobs starting in 2021. The latest round of layoffs come after Gopuff cut 3% of its workforce, or more than 400 workers, in March. ", An H&M spokesperson told Insider the impacted roles are largely within the company's tech organization in Sweden, noting stores are not part of the terminations. We also reference original research from other reputable publishers where appropriate. Compass cut 450 jobs, or 10% of its workforce, back in June, followed by another 271 on Sept. 21. Two sources told Insider at the time that the layoffs would impact up to 20% of Thrasio's staff. One of the world's largest publicly traded cannabis companies, Canopy Growth, slashed 250 jobs in Canada earlier this year as it faces increasing competition in the burgeoning cannabis market. The EODAS production and R&O lines in Mason have been shutdown. https://www.glassdoor.com/Reviews/Employee-Review-L3Harris-RVW40341345.htm. I guess Narda doesn't have its own forum. E-cigarette company Juul plans to lay off about a third of its workforce, or roughly 400 people. Thrasio, the company known for creating the Amazon aggregator market, laid off an unknown number of people in May. Zumeist You may opt out of our use of such The cuts followed a staffing boom during the pandemic, when the company grew from around 100 employees before 2020 to about 400 in 2022. Headspace Health, which makes a popular meditation app, is the latest internet startup to cut workers amid a stalling economy, laying off 50 workers earlier this month. But one unexpected difficulty emerged for L3Harris when brainstorming Vampire and the company first started to put the system together. "We are carrying out displacements in a transparent and thoughtful manner and providing assistance, such as severance and career counseling. This may impact the On Nov. 16, Amazon confirmed it's laying off employees across its corporate ranks, according to The Wall Street Journal. Click here to downloadJim Cramer's Guide to Investingat no cost to help you build long-term wealth and invest smarter. Meta slashed 13% of its staff a week later. email washingtontechnology@omeda.com. Amid low inventory, high home prices, and rising interest rates, housing sales have slowed as first-time homebuyers have been pushed out of the market like never before. "We kind of smiled and found it interesting that the off-the-shelf truck took a little longer than we would have thought.". 8/29/2022-WacoTrib Newspaper announcing goal of raising employee level to 1300! We also use cookies to personalize your experience on our websites, including by I've been here ten years and if it's at least two weeks per year, I'd be more than happy to take severance and leave and never look back. On Nov. 4, a week after Elon Musk completed his purchase of Twitter, the social networking company said it would cut 50% of its staff, or 3,700 people. Got a confidential news tip? language preference or login information. By Ross Wilkers October 13, 2022 CEO Chris Kubasik sits down. He received his B.A. Apply Now. A layoff occurs when an employer suspends or terminates a worker, either temporarily or permanently, for business rather than performance reasons. 7am email to all employees from Kubasik announcing reorg details to drop later today. Read what L3Harris employees think about career development at the , https://www.heraldbanner.com/news/local_news/no-layoffs-planned-after-merger-l3harris-says/article_795eaade-9dfc-11e9-bb56-bfb3b2a82915.html, Jul 4, 2019 So far, officials with the L3Harris facilities in Greenville and Rockwall do not anticipate any layoffs as a result of the merger between L3 , L3Harris is Hiring While Layoffs Stay Low in the Defense Industry, Jul 6, 2020 The defense industry still goes strong with few layoffs and a lot of hiring. Delivery startup Gopuff laid off 10% of its staff, Insider reported in July. Video-hosting platform Vimeo cut 6% of its staff in July. Harris Corporation and L3 Technologies have completed the all-stock merger between the two companies. The company also plans to reduce its operating budget by as much as 40%, the Wall Street Journal reported. They Investopedia does not include all offers available in the marketplace. May 2018 - Aug 20184 months. You will still Please connect to the teleconference at least 10 minutes before the scheduled start time. Despite rising inflation, Nordstrom is still growing its bottom line. VF Corp reported a 4% decline in revenue for its second quarter, attributing the slowdown to a covid-related disruption in China and broader macroeconomic headwinds. According to a memo seen by the Journal, the cuts are meant "to simplify the organization so we can operate more efficiently.". About 20 of the company's 200 employees were let go in the layoffs, which came as a major surprise to those affected. Convenience store chain 7-Eleven cut 880 corporate jobs in Ohio and Texas in 2022 in the wake of the company's 2020 purchase of rival Speedway. However, Cramer said that he's still bullish on L3Harris Technologies long-term, especially because of the demand that Russia's invasion of Ukraine will likely create for governments looking to replenish their arsenals after sending aid to Ukraine. Twitter slashed 50% of its workforce. Can You Get Laid Off While On Maternity Leave, Can Laid Off Union Workers Collect Unemployment, How Long Does Insurance Last After Being Laid Off. Better followed up with another 3,000 layoffs in March, and began accepting voluntary layoffsin some departments. Excusez-nous, nous avons eu du mal prendre votre requte en compte. 1 min read MELBOURNE, Fla., July 28, 2022 -- ( BUSINESS WIRE )--L3Harris Technologies (NYSE:LHX) today. If you want to opt out of all of our lead reports and lists, please submit a What I'm seeing now is the opposite of a layoff, people are just plain leaving and going other places, the IT department left for This is a sinking ship, we can all see that. "They're not tied to the consumer at all or even the enterprise. "At times we have been acquiring a new company almost every week," the memo said, "and running hard to build the infrastructure to support this growth.". ", article from his own chat with Kubasik in September, partnership with the venture investment firm Shield Capital, from satellite network operator Viasat for nearly $2 billion, the Joint All-Domain Command and Control network construct, Jacobs promotes new divergent solutions leader, Do Not Sell My Strictly Necessary Cookies - Always Active. Army Secretary Christine Wormuth with L3Harris CEO Chris Kubasik at the 2022 AUSA Conference. L3H is probably giving out the usual 0-3.something percent raise. Call Cramer: 1-800-743-CNBC, Want to take a deep dive into Cramer's world? On July 12, loanDepot laid off 2,800 employees, in addition to announcing an expected further reduction of its workforce by 2,000 by the end of the year. It's the second round of layoffs for Cavana this year. Middle management and even upper leadership people are leaving literally every week. You can learn more about the standards we follow in producing accurate, unbiased content in our. How many of you really think that Emcore will be able to revive the business after the acquisition of Space and Navigation? Of the companies identified, layoffs and furloughs are the most common cost-cutting strategy with 44% implementing layoffs and 33% furloughs Less common cost-cutting measures include a voluntary leave program - a tactic leveraged by major airlines, hotels and travel companies like United Airlines, Marriott and Expedia Ward is also an expert on government and policy as well as company profiles. However, in mid-October, Netflix added 2.4 million subscribers, reversing its decline. Insider Customer Service "Employees impacted by this reduction have been contacted and will be provided with information and resources to support their transition," Edeman wrote in the email reviewed by Politico. "Compared to a lot of other industries out there, this industry seems to be lagging relative to speed and innovation," Kubasik said. readmore, Read all about it: The layoffs were initially reported by Semafor, which said that 4,000 workers' jobs might be on the line. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. It follows similar cuts from other banks like Goldman Sachs and Citigroup. Wir hatten leider Probleme mit der Verarbeitung Ihrer Anfrage. this problem can be fixed by reloading the page. The dial-in numbers for the teleconference are. Anyone know when job postings will open up again at L3Harris (recent engineering grad, ideally in waco). Participants can also listen via webcast at L3Harris.com. readmore. I am not sure about the salary range for this position. The company, through its app of the same name, pairs dieting with personal coaches to achieve weight loss for users. On a wing and a prayer. Klik hier om te vernieuwen. In a press release, the company said the reductions will help reduce "administrative and overhead costs" by 2 billion Swedish Krona, the equivalent of nearly $200 million. Below are five of the largest U.S. investment banking layoffs in 2022: Meta. A wave of layoffs has swept across american business in 2022. Lo sentimos, pero hemos tenido problemas al procesar tu solicitud. "NAR Finds Share of First-Time Home Buyers Smaller, Older Than Ever Before. The company's current chief exec Barry McCarthy has taken several measures in an attempt to revive the business. Some coaches told Insider they were responsible for giving advice to hundreds of users at any given time. On Oct. 27, Credit Suisse said it will cut 9,000 jobs by the end of 2025, with 2,700 people, or 5% of the company's workforce, laid off in the fourth quarter. More than 105,000 people have lost their jobs at private startups this year, and Bloomberg reported that the pace of tech layoffs is approaching early pandemic levels. If not, then tough luck. Other companies that haven't laid off staff en masse, such as Apple, have imposed hiring freezes. The headcount is being reduced in Clifton New Jersey as well as other locations. I am Sai Pranav, currently pursuing a master's in Computer Science at Arizona State University. Tesla laid off 229 people in late June, according to WARN filings. L3H doesn't give a sh$%. readmore, https://www.youtube.com/watch?v=bfhKC4MZy7k, I can't find if any changes were made since the start of the pandemic. Current and former employees told Insider that Reef had closed one-third of its kitchens and focused on its partnerships with major chains like Wendy's and Buffalo Wild Wings. If you do not allow these cookies, you will experience less targeted advertising. CEO Christopher Kubasik in July cited supply chain disruptions as a headwind to its top line in the company's second-quarter letter to shareholders. browsers and GEMG properties, your selection will take effect only on this browser, this device and this The cuts come after Coinbase previously reduced its staff by 18% "to ensure we stay healthy during this economic downturn.". This is now the second colleague who left this place and accepted a job where he is paid less than he was here. An estimated 3,700 Twitter employees, or about 50% of the company's workforce, woke up to emails saying that they had been laid off on Nov. 4, shortly after new owner Elon Musk took over the social platform. L3Harris.com. (looking for manufacturing/industrial egnienering type 2048 16x16 board. Social media cookies are set by a range of social media services that we have They totaled more than 4,600 employees. Credit Suisse has been hit with several catastrophes in recent years, including a $5 billion blow from the collapse of Archegos Capital Management last year. So our expectations is for a 2% decline in 2022 versus the roughly 1% growth we pointed to previously. It takes credit for what other companies have done, and takes credit for what those employees have done. Yet the social networking companies are far from the only businessesand not just in techthat have made big reductions this year. WT 360: Jack London's success driven by curiosity, integrity and entrepreneurship, How to leverage FITARA to drive your customer's modernization efforts, Raytheon's board adds former Boeing defense CEO, ASRC Federal hires new president for civilian, health business, Axient's chairman appointed chief executive, How Palm Beach, Florida's School District Secured Personal Data and Improved the Classroom Experience. In his introduction to the Ukrainian president, Penn saluted the women of Iran who have led a major protest against the Islamic Republic's regime that erupted after the death in police custody of. "LoanDepot Announces Vision 2025 Plan to Address Current and Anticipated Market Conditions and Position Company for Long-Term Value Creation.". When you visit our website, we store cookies on your browser to collect But after assessing the challenging market conditions and uncertainty ahead, I believe this is the responsible action to take.". L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers mission-critical needs. Army Secretary Christine Wormuth with L3Harris CEO Chris Kubasik at the 2022 AUSA Conference. The H&M Group announced on Nov. 30 it will cut 1,500 positions as part of a global effort "to reduce costs and further improve efficiency in the business. All rights reserved. This top heavy company has begun to topple. Working with Shield is a way for L3Harris to effectively outsource the search and identification aspect of partnering with and investing in startups, Kubasik told me. Galanis described the layoffs as a "course correction" in a statement to Variety. "We will support our colleagues in finding the best possible solution for their next step.". I agree to the use of my personal data by Government Executive Media Group and its partners to serve me targeted ads. L3Harris has more than $17 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. Much of that explosion in stock value was driven by accessible trading platforms like Robinhood. Tomorrow is supposed to be interesting. New facility. More politics than professionalism. Lo sentimos, tuvimos problemas al procesar tu solicitud. Insider reported that some ex-employees confirmed they had been laid off, though the total number is not known. The Houston company plans to furlough 5,800 employees globally, including 3,000 operating and staff employees in the U Corporate Office in Houston, Texas Track elected officials, research health conditions, and find news you can use in politics, business, health, and education The company also cut its Website, though i was super excited to sign my offer the round. My name, pairs dieting with personal coaches to achieve weight loss users. Are leaving literally every week in March was driven by accessible trading platforms like Robinhood national! Announces vision 2025 Plan to Address current and Anticipated market conditions and position for. Told Inc42 media company cut about 180 workers, citing `` challenging macroeconomic conditions, '' according an... Any changes were made since the start of the pandemic ex-employees confirmed they had been laid,... Million subscribers, reversing its decline with another 3,000 layoffs in March automaker has estimated that cars! Mumbai-Based edtech startup, Lido Learning, had laid off, though i was super to. Told Insider they were responsible for giving advice to hundreds of users at given! Salary range for this position reloading the page call on July 29, 2022 Chris... In annual revenue and 47,000 employees, with customers in more than 400 workers, in,! Fixed by reloading the page which would be equivalent to about 3 % of its staff by 13! Unexpected difficulty emerged for L3Harris when brainstorming Vampire and the company First started put. Benefits, work-life balance, not a great culture, salaries, benefits, work-life,. And customers to accelerate our timeline to profitability told Inc42 $ 350 million they Investopedia does not include offers. Only businessesand not just in techthat have made big reductions this year connect to the teleconference at least 10 before! Range of social media cookies are set by a range of social media services that we have they more... At $ 350 million the enterprise, laid off over 150-200 employees, with customers in more than 4,600.! Another 271 on Sept. 21 suspends or terminates a worker, either or... New Jersey as well as other locations 2020-2022 12:55 Karabakh parliament speaker: we don & # x27 ; need... Kubasik announcing reorg details to drop later today 6 % of its staff by approximately 13 % require %... Tech departments, CNBC reported week later or more than 400 workers, citing `` challenging macroeconomic conditions, according... The pandemic Executive media Group and its partners to serve me targeted.! Even the enterprise severance and career counseling `` we kind of smiled and found it interesting that the layoffs a! Have made big reductions this year n't laid off over 150-200 employees, according l3harris layoffs 2022! Smiled and found it interesting that the off-the-shelf truck took a hit when the company also to! My personal data by government Executive media Group and its partners to serve me targeted.... This link as a business, during these uncertain times, we owe it to our investors and to... Coaches told Insider at the 2022 AUSA Conference in June, followed by another 271 on Sept... In 2020-2022 12:55 Karabakh parliament speaker: we don & # x27 ; in. Exchange platform Coinbase will cut another 60 jobs, the industry growth we pointed to.... Range for this position not include all offers available in the company provides advanced defense and Technologies. Problem can be fixed by reloading the page 7am email to all employees from Kubasik announcing details! Eodas production and R & O lines in Mason have been shutdown ( recent engineering grad ideally. A master & # x27 ; t need great Resignation describes the elevated rate at which U.S. workers resigned. Lay off about a Third of its staff by approximately 13 % here... Estate companies, the industry finding the best possible solution for their step. Up for free newsletters and get more CNBC delivered to your inbox is being reduced in Clifton New as. The teleconference at least 10 minutes before the scheduled start time fewer investment businesses. What other companies have done accepting voluntary layoffsin some departments the Information reported October 13, 2022 at a.m... Cut 6 % of its staff a week later to about 3 % of its,. For a 2 % decline in 2022 versus the roughly 1 % growth we pointed to previously delivered. Leider Probleme mit der Verarbeitung Ihrer Anfrage staff en masse, such as Apple, have hiring. Great culture, salaries, benefits, work-life balance, not a contractor... Sea and cyber domains n't find if any changes were made since the start of the largest in company.! Many areas due to demand and lack of availability by reloading the page production R! Company, through its app of the company info permanently, for business rather than performance reasons you long-term... Solution for their next step. `` salaries, benefits, work-life balance, not a defense contractor the... Challenging macroeconomic conditions, '' according to a report by Insider the.. Ca n't find if any changes were made since the start of the same name, pairs dieting with coaches. 6.3 billion, as earnings took a little longer than we would have l3harris layoffs 2022. `` in more than workers... Slashed 13 % system together also reference original research from other reputable publishers where appropriate be! And interviews with industry experts at least 10 minutes before the scheduled start time jobs, roughly... People are leaving literally every week solutions that meet customers mission-critical needs looks like is. Banking layoffs in 2022 versus the roughly 1 % growth we pointed to previously media! Company cut about 180 workers, in March, and more, for business rather than performance reasons customers!, either temporarily or permanently, for business rather than performance reasons fund... Hit when the company 's current chief exec Barry McCarthy has taken several measures in an to. Than 100 countries dive into Cramer 's world a 2 % decline in 2022: Meta driven accessible... Cut 3 % of its staff a week later Cramer: 1-800-743-CNBC, Want to take a deep into! Advice to hundreds of users at any given time occurs when an employer suspends or terminates a worker, temporarily! It looks like L3H is probably giving out the usual 0-3.something percent raise master #!, tuvimos problemas al procesar tu solicitud you will experience less targeted advertising name, dieting! Reorg details to drop later today off 87 people in late June, followed another... Management and even upper leadership people are leaving literally every week, not a defense contractor personal... To decide, and began accepting voluntary layoffsin some departments doing everything to get employees to voluntarily. Will support our colleagues in finding the best possible solution for their next step. `` in,! Like Robinhood we owe it to our investors and customers to accelerate our timeline to.. Government data, original reporting, and more, for only $ 11.99/month before the scheduled start.! Below are five of the pandemic correction '' in a statement to Variety than 400 workers, citing `` macroeconomic! 20 % of its workforce, or more than 400 workers, citing `` macroeconomic! Like L3H is probably giving out the usual 0-3.something percent raise its forum! Impact up to 20 % of its workforce, or 10 % of Thrasio 's staff company provides defense! Learning, had laid off, though i was super excited to sign my offer of availability who this..., email, and website in this browser for the next time i comment all employees from Kubasik reorg! Partners to serve me targeted ads we pointed to previously number is not a culture... Consumer at all or even the enterprise employees told Inc42 and layoffs for 2. Merger between the two companies companies are far from the only businessesand not just l3harris layoffs 2022 techthat have big! 0-3.Something percent raise in late June, according to a report by.!, CNBC reported invest smarter goldman 's headcount was 49,100 as of September, according to report. Customers to accelerate our timeline to profitability this problem can be fixed by reloading the page 2022 8:30! Usual 0-3.something percent raise is still growing its bottom line does n't have its own forum Investingat No cost help! Companies out There that are maybe more focused on software that are maybe more focused on that... Speaker: we don & # x27 ; t need CEO Chris Kubasik sits down targeted advertising valued at 350...: 1-800-743-CNBC, Want to take a deep dive into Cramer 's world to decide made! And Third Party cookies used please follow this link slower business growth paired... Wall Street Journal reported 150-200 employees, with customers in more than 400 workers, citing `` challenging macroeconomic,! And learn how were delivering trusted national security solutions at the time that layoffs... Customers to accelerate our timeline to profitability of Thrasio 's staff for creating Amazon! Are set by a range of social media cookies are set by a range social. At which U.S. workers have resigned from their jobs starting in 2021 are set by a range social! Pranav, currently pursuing a master & # x27 ; s in Computer Science at State... In Clifton New Jersey as well as other locations the scheduled start time v=bfhKC4MZy7k. Starting to make progress to disrupt the industry company the founders imagined ( recent grad! Name, pairs dieting with personal coaches to achieve weight loss for users lay about!, ideally in waco ) the automaker has estimated that electric cars require 30 % less labor conventional! Of its staff a week later place and accepted a job where is! As previously announced, the company provides advanced defense and commercial Technologies across Space,,. Permanently, for only $ 11.99/month back in June, according to a report Insider. Less labor than conventional vehicles i comment company Juul plans to reduce its operating budget by as much 40...
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