"At this time, we think it makes sense to take decisive actionto reduce our annualized costs by $45 million," says Jones LangLaSalle President and COO Christopher A. Peacock. "The program willbe tailored to the underlying conditions of each of ourregions."

Chief Financial Officer Peter C. Roberts told analysts Tuesdaydetails of the cuts were still being worked out and not final, amemo to all employees said 278 jobs would be cut in the Americas,and affected employees will be told Friday. That would leaveanother 400 jobs at stake in Europe and Asia, the latter regionhaving seen a restructuring earlier this year.

Company officials concede they are being generous with severancepackages, with costs of the layoffs expected to be $40 million inthe current quarter -- about $60,000 a head. Roberts says laws andcontracts dictate many of the foreign severance deals, but Chairmanand CEO Stuart Scott admits the company is paying departingemployees market rate or better. "It's as important for the peoplewho stay as much as those who leave."

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