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BUZZ-Oxford Instruments: Down on news of job cuts

Reuters - UK Focus

** Oxford Instruments (LSE: OXIG.L - news) falls 9.3 pct, after co cuts 7 pct of workforce or 160 jobs, as trade sanctions hit sales in Russia and recovery in Japan proves slower than expected

** Co, which makes maintenance systems and parts for CT and MRI scanners, says plan included closure of six of its smaller sites

** Says estimates cost savings of around 8 mln stg this financial year, higher than the 6 mln pounds it earlier expected to add to its operating profit 2015/16 onwards

** Stock biggest percentage loser on the FTSE All Share Electronic Equipment Index and the FTSE All Share Index (Messaging: noor.hussain.thomsonreuters.com@reuters.net)