News of the latest cutbacks stung the workers and prompted a harsh attack by the union that represents long-distance employees.

Nomura had 550 United States employees before the latest cutback, which follows modest cuts last year.

The latest cutbacks would bring to 5,100 the number of jobs that Chase has eliminated in the last 18 months in an effort to increase profits.

The latest cutbacks include the elimination of two daily flights each to New York and Los Angeles.

But no amount of explanations can dispel the suspicion and resentment the latest cutbacks bring.

The school system's latest cutback came about because of a $3.1 billion gap the Mayor had to close to balance the $31 billion budget.

The local United Way, which fell about 10 percent short of its latest fund-raising goal, primarily blamed the weak economy for the latest cutbacks.

The latest cutbacks will affect fewer people than in prior years.

Even so, the swiftness of the latest cutbacks has caught many airline employees unaware.

But Mr. Gerstner said the program could restore worker confidence if it became clear that the latest big cutback was the last.