Unless market conditions improve faster than the firms' executives forecast yesterday, Wall Street is due for more painful cutbacks, they said.

Where one side sees spending on cultural, health and social services remaining steady or even increasing, the other insists that those very same programs face painful cutbacks.

That perception will worsen if he is forced to make painful cutbacks just six months before voters troop to the polls.

Mr. Wright acknowledged there was some incongruity between this high interest in covering news and the painful cutbacks at the network news divisions.

THE painful cutbacks helped to restructure large sections of British industry.

But after these painful cutbacks, he said a sales-tax increase, to 8.25 percent, would be necessary if the recovery were to succeed.

Colleagues say she has reorganized departments, promoted women and members of minorities, and made a series of painful cutbacks with a minimum of recriminations.

There, he pushed through painful cutbacks, including the closing of six factories and the cutting of 26,000 jobs.

Mr. Blagojevich said that the issue was a matter of "right and wrong" and that the state was in a fiscal crisis that had forced painful cutbacks.

While other cities around the state were making painful cutbacks, Huntington Beach built a children's addition to its library.