There may be personnel cutbacks, but details have yet to be worked out, a spokeswoman said.

Meanwhile, morale at the firm, long considered one of the most powerful on Wall Street, has crumbled in the wake of the personnel cutbacks, the sources said.

In lower Manhattan, retaining the exchanges bolsters prospects for recovery from the losses and personnel cutbacks that have hit the financial services industry recently.

The troubled Yonkers public school system has experienced new budget and personnel cutbacks this year.

All are under relatively new corporate ownerships that have initiated personnel cutbacks and tighter budgets.

Today, personnel cutbacks have reduced USAF dog teams to approximately 530, stationed throughout the world.

But they are considered significant because they represent the company's largest personnel cutback in recent years.

Inquiries about staff changes, personnel cutbacks and committee clear-outs were referred to Mr. Gingrich's office with the advice: "Ask him.

Some of the personnel cutbacks will be made this year, but most will come in 1994, Mr. Rubenstein said.

"Our replacement pools have been run down with the personnel cutbacks recently," Coburn explained.