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By Bob Shallit, The Sacramento Bee, Calif. Knight Ridder/Tribune Business News
Feb. 21--CUTBACK STUNNER: This week's announcement about more cutbacks at NEC Electronics was kind of a stunner. Since a reorganization that took effect Nov. 1, the company - wholly owned by NEC Corp. of Japan - has been doing well, especially in making custom chips for the auto industry.
So when a series of companywide staff meetings was scheduled, many employees actually thought they might be getting a bonus. An attaboy at the very least. Instead, what they heard was news of more layoffs and significant cutbacks in benefits for those remaining.
"The employees who …