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Jobs Cut: 4,000
Wyndham Worldwide (WYN), which franchises Ramada, Days Inn, and other chain hotels, said on Dec. 8 it would eliminate 4,000 jobs, or about 12% of the Parsippany (N.J.) company's overall workforce. Wyndham said in a statement that it is scaling back its timeshare business as a way to reduce its reliance on asset-backed securities.