When the sale was concluded, the release said, the bank would reduce its position in securities by $2.2 billion, and lay off 100 employees.

He said that while he still thought the shares were overpriced, he had cut his losses by reducing his short position.

If Mr. Jett had reduced his position in forward reconstitutions, he would have incurred a loss.

Since then, the firm has substantially reduced its position.

And the central bank was successful in getting us to reduce our position, but we've made some profits.

We reduced our position, adjusted our position in a way that was below $2 million.

Since then, Mr. Kohli has steadily reduced his position in each utility.

Mr. Bland declined to confirm or deny the reports but said, "We're asking them to reduce their position somewhat."

He has recently reduced his position by about one-third, he said, to take profits.

The league reduced its previous position on adjustments to the cap if the collective payroll exceeds the players' percentage of the league's basketball related income.