Life insurer Lincoln National will cut up to 1,000 jobs on top of the 200 it has already eliminated, Reuters reports. The layoffs come after the firm’s earnings fell 84% to $91.6 million in 2002, down from $590.2 million in 2001.

Lincoln expects the cuts to result in after-tax charges of $55 million this year, but to result in $13 million savings in 2004 and $39 million in 2005.

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