OXY OUTLINES MORE COST CUTTING MEASURES

Occidental Petroleum Corp. aims to save at least $300 million next year by trimming capital spending and operating costs, including an across the board hiring freeze and a salary freeze. "We must continue to operate on the assumption that our performance in the near term could very well remain under the influence of a sluggish economy," Ray R. Irani, Oxy chairman, president, and chief executive officer, told New York security analysts.

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