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ST. PETERSBURG — Jabil Circuit Inc. (symbol: JBL) eliminated 90 positions at its manufacturing facility in St. Petersburg last week.
That total represents a small number of its global employees because Jabil has roughly 100,000 employees worldwide. Fewer than 2% of those workers are based in St. Petersburg.
But the last thing the Pinellas County economy needs is fewer jobs. As of December 2010, Pinellas' unemployment rate was 11.7%, down just 0.3 percentage points from the same month a year ago.
Despite the negative news for employees, Jabil stockholders can rest easy. Jabil shares were trading consistently above the $21.50 per-share mark, near the company's 52-week high of $23.
Jabil Circuit generated $13.4 billion in revenues in 2010.
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