TRUSERV ANNOUNCES REDUCTION IN WORKFORCE.

* TruServ Corp. announced it has begun a significant reduction in staffing nationwide. The process should be completed over the next several months and plans call for 10 percent to 20 percent of the company's employees to be let go.

TruServ, which has been steadily reducing overhead for the last two years, plans to combine administrative locations and improve distribution efficiencies. Since 1998, the company has reduced administrative head count by more than 40 percent.

By reducing administrative expenses and the size of its distribution network, President