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CRM Holdings cuts jobs in subsidiary

Wed Feb 20, 2008 8:25am EST

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Feb 20 (Reuters) - CRM Holdings Ltd (CRMH.O) said it has eliminated 34 positions at its self-insured group management unit due to reduced volume of business in the New York market.

The move is expected to yield annualized pre-tax expense savings of about $2.2 million, the provider of workers' compensation insurance products said in a statement. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Deepak Kannan)



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