In his first four years, Giuliani cut the rate to about 50 percent.

The company cut its work force by about 7 percent in 1993 to 23,216 people, largely through a voluntary retirement program.

"I cut the reserve to about 10 percent of the low estimate," he said.

He proposed cutting $96 million from that program, about 6 percent of the total.

Production schedules will be cut by about 30 percent for one quarter, he said.

They would cut the deficit by $28 billion, or about 2 percent.

They have probably cut about 100 percent of the people they can do without.

Electric bills have been cut by about 24 percent, or $4,000 a month.

The work force was cut about 10 percent, or 16,000 jobs, because of the global downturn in technology spending.

After the deal is completed, the combined company will cut its work force by about 7 percent to 16,000 employees, the companies said.