The two companies cut more than 2,000 jobs from a total work force of 17,500.
The companies said they had no plans to cut jobs.
It has cut 30,000 jobs in the past two years.
He added that the company had cut 6,300 jobs in the last two years.
The company plans to cut 400 more jobs this year.
The group will also cut 4,450 jobs, or 21 percent of its work force, by 2007.
In May, the company had said it would cut 9,000 to 11,000 jobs by the end of 1997.
It plans to cut 20,000 jobs in the next 12 months.
It has cut about 5,000 jobs in the last year.
The company will cut 310 jobs this year and 340 more by 1996.