Pitney Bowes Inc. will cut 4% of its workforce, totaling 1,500 jobs. Reasons? The mail and document-management company hopes to cut costs and change its production line, switching its old equipment out with digital equipment.

According to president and chief executive Murray Martin, "Today we have a larger, more diversified mailstream capable of delivering more than ever before, especially in combination with the Internet and emerging technologies. We are well-positioned to take advantage of the opportunities for superior growth that exist in the mailstream because of the expansion and integration of our equipment, software, and services."

Expected growth in 2008 includes an increase in revenue between 6% to 9% and an earnings per share increase from $2.80 to $2.90.

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